An Introduction to Tax Deductions, Retirement, and Retirement Planning

Author: External Author | | Categories: Accountant , Business Tax Preparation , Financial Planning , Tax Planning , Tax Resolution


Tax deductions can have a big impact on retirement planning, and on how much of your income you get to keep and live on in your later years. Many deductions are designed to provide an incentive for people to spend money on things the government perceives as being a benefit to society. For example, the Internal Revenue Code (IRC) includes deductions for charitable donations, for environment-friendly purchases—and yes, even for saving for retirement.

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Original Article Source Credits:   The Balance ,

Article Written By:  Michael Rubin

Original Article Posted on:  July 01, 2020

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