Tax Benefits of Retirement Contributions
Lamberty, Pyle &Associates LLP
Saving for retirement not only secures your future but also reduces your taxable income today.
California residents can contribute to traditional IRAs or employer-sponsored 401(k) plans to lower their federal taxable income.
While California doesn't offer a separate deduction for IRA contributions, the federal benefit still significantly reduces overall tax liability.
Starting early and contributing regularly helps grow your savings through compound interest while providing yearly tax advantages.
Lamberty, Pyle &Associates LLP can help you navigate taxes, bookkeeping, and financial planning with ease and accuracy.