The Retirement Deduction

Deductions are the Government giving back your money

Deductions are a method to lower your tax burden. Or in the other words, it is the false pretense that the Government is giving you back your money. Even in the case of making a retirement contribution to a) lower your tax burden, and b) incentivize you to save, these intentions are unnecessary for a tax system in 2021.

Deductions

So how does the retirem…