Pay less tax

A retirement account you control, with a tax break attached.

An IRA is a retirement account you open yourself. A Traditional IRA can lower your taxes now. A Roth IRA pays off tax-free later.

Watch the quick version

See how it works through one simple example.

Is this you?

You have earned income from a job or self-employment.
Almost anyone who works can open an IRA, even with a 401(k).

Here is the idea, in plain words

With a Traditional IRA, your contribution may lower your taxable income this year.

With a Roth IRA, you pay tax now but never again. Withdrawals in retirement are tax-free.

Lower earners often prefer Roth, higher earners often prefer Traditional.

See what you could save

This shows the Traditional IRA tax break.

$0
You could cut this year's tax bill by about
$0

This is a rough guess. Connect your account to see your real number, down to the dollar.

A simple federal estimate to show the idea, not a tax filing. Real numbers depend on your full situation and current limits, which we confirm before you act.

Ready?

See your real IRA tax break

Connect your account and we show whether Traditional or Roth fits you, and the exact savings.

Connect my account
🔒 Read-only access ✓ We never move your money 🛡 Secured by Plaid

Free to check. Nothing happens until you say so.

What to watch out for

The honest version.

  • Income limits affect the Traditional deduction and Roth eligibility.
  • Early withdrawals before retirement age can trigger tax and a penalty.
  • One yearly limit applies across all your IRAs combined.

Common questions

Traditional or Roth?

Traditional may cut your taxes now. Roth is tax-free in retirement.

Can I have an IRA and a 401(k)?

Yes, though your Traditional deduction may be limited at higher incomes.

When can I take it out?

Generally after age 59 and a half without penalty.

← Back to all tax guides
See your number

Find out what you're overpaying, free

Connect an account or upload last year's return. No card to get your number.

Find my savings