Owed a Lot of Money on Your Taxes? 3 Steps to Take This Year

Owed a Lot of Money on Your Taxes? 3 Steps to Take This Year

If you contribute to a traditional IRA, the money you put in is money the IRS won't tax you on. Capital gains, which apply when you sell investments for more than what you paid for them, are taxable, and if you take a large amount of gains this year, it'll add to your tax burden.