Thank you for the information. I obviously need to get more information. If what I read is correct, the limit for tax deductible contributions to the traditional IRA is $184k. Since I am doing it on my own, I am already putting in the dollars after they have been taxed. I guess the difference would be, if it is something that I am able to deduct, it would have to be done at tax time.
At this point, I will keep contributing to the traditional. If we stay under the cap, that (in a sense) will be a bonus I guess.
I guess the other side of it, I could start putting money back (savings or taxable account), and dump it into the appropriate retirement account (roth or traditional) at the start of the next year when we know what our total income was.
If we cannot make tax deductible contributions, what would the point of putting it in an IRA vs a taxed account be? The gains and dividends wouldn't be taxed?