The tax season is over. How much did you pay this year?

The tax season is over. How much did you pay this year?

Do you know that there are ways to decrease what you pay for tax and save for the future?

Last year I wrote something about it. But now, we have another way to pay less taxes and at the same time save for the future. YES!!

"The Roth IRA is all about pay now, play later: Because the income you contribute has already been taxed, qualified distributions in retirement are tax-free.That means you lock in whatever your tax rate is when you make your contributions, and skirt taxes on any investment growth in the account. This is also true of a Roth 401(k), which is increasingly popping up on employee benefit menus.Other accounts, like a traditional IRA and the standard 401(k), take the opposite approach: You get a tax deduction on contributions, but pay income taxes when you take distributions from the accounts."

If you want to know more about a Roth IRA, click here. Or if you want to know how and where you can open fast and easy a Roth IRA click here.

The article Why the New Tax Law Makes Roth IRAs More Attractive originally appeared on NerdWallet.