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IN U.M. Loan & Savings Ministry, Inc. |
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Tax Advantages An IRA provides tax-advantaged savings for retirement savings and may be an effective way to supplement your other long-term savings vehicles. Savings in tax-deferred accounts can compound more quickly than those in comparable taxable accounts. If you are covered by a qualified retirement plan, your IRA deduction may be reduced or eliminated, depending on the amount of your income and your filing status.
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