WHAT THE CUTS MEAN TO YOU

摘要

Bernard Kent and his wife, Nina, have a New Year's ritual: Every Jan. 2, they both write checks for their maximum contribution to their individual retirement accounts (in 2003, $3,500 apiece). Neither qualifies for an IRA tax deduction. But Kent, a partner in PricewaterhouseCoopers' Detroit personal finance practice, wants to get their funds working in an IRA―where they'll pay no tax on earnings until the money is withdrawn in retirement―as quickly as possible.