Would it be better for me to open an IRA before this tax year ends or next year?

ANSWER

The BIDaWIZ Team's Answer:

You should establish the IRA, for the current tax year.

Thus, initiating the tax deferral of the investment income that

is earned, from the principal, and thus, ensuring that you

are entitled to a current year tax deduction, for the IRA contributiion,

if you satisfy all of the requirements for deduction.