Unexpectedly, I switched jobs recently. I was unable to max out my 401k for the year. Currently at 8k contributed so I have about 10.5k left on the table in terms of tax deferred. My new job won't offer a 401k until 1yr of service.
Advice as how to lower my tax obligation-would maxing a tIRA the way to go to capture the additional 5.5k?
My wife is employed with a retirement plan, can I piggyback on a tIRA for her and add an additional 5.5k to her name? Note, she will max out her 401k at 18.5 for the year and our combine AGI will be at roughly at 80k.
Not sure of any restrictions to expect with her having a retirement plan at work.
Any advice would be greatly appreciated.