as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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how can i use a roth ira to minimize my tax burden on retirement?
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your participation in a workplace plan doesn't affect your roth ira contributions. your income, on the other hand, does. specifically, your modified adjusted gross income (magi) determines whether or not you can contribute to a roth ira and how much you can contribute.
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