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June 1, 2019
Question

Might I get a better tax refund if I can add $1000. to my IRA tomorrow? I did much better in N.Y. state last year.

  • June 1, 2019
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1 reply

Employee
June 1, 2019

Not much.  A $1000 IRA contribution will save you $120, $220, or $320 on your federal and $79 on your state.  Plus, put you out of pocket $1000 that you don;'t get back until you retire.