As stated, 403(b) plans are not the same thing as a traditional IRA. However, contributions to your 403(b) may decrease your taxable income similarly to a traditional IRA contribution, as contributions are taken out of salary & wages pre-tax. For tax year 2024, taxpayers could contribute up to $23,000 to a 403(b). In some cases, taxpayers may be able to make nondeductible contributions to these plans. See the link below for more information.