If you aren't eligible for a company plan but your spouse is, your household income needs to slide in under $181,000 to deduct all your contributions. So it does depend a little on what you qualify for -- and what IRA plan you have -- when figuring out how contributions can affect your taxes. Just remember that a traditional IRA might result in deductions the year you put the money in, but Roth IRAs are going to be tax-free when you take that money out.