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IRA Phase-Outs – Did You Know?

If you or your spouse is covered by a workplace retirement plan, the IRS has increased the phase-out ranges for making contributions to Individual Retirement Arrangements (IRAs):

– Single: $64,000-$74,000 from $63,000-$73,000
– Married filing jointly (with one spouse making the contribution and covered by a workplace retirement plan): $103,000-$123,000 from $101,000-$121,000

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