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7 June, 22:53

The Robertsons, a couple with an adjusted gross income of $28,500, decides to contribute the maximum amount possible toward their individual retirement accounts (IRAs) even though Mr. Robertson is covered by a pension plan where he works. He names his wife the beneficiary of the IRA. What is such a tax strategy called?

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  1. 7 June, 23:22
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    Tax deferral strategy.

    Explanation:

    Mr. Robertson will have to pay taxes later in the future at the time of withdrawal of the money.
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