IRA

by Manshu on October 5, 2006

in Articles

IRA stands for Individual Retirement Account and it allows individuals to make contributions towards an account in a tax deferred manner.

What this means is that individuals will not be taxed on the amount that they deposit in an IRA or the income generated from it till the time that they withdraw the money from their IRA. There is a certain maximum limit of the contribution and age restrictions for the individual who can contribute to an IRA.

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