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Deductible contribution |
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Deductible contributionAmount paid into an IRA, an employer-sponsored retirement plan, or other type of retirement plan for a particular tax year that is a deduction from income for tax purposes.Deductible contribution Similar MatchesAdditional voluntary contributionsAdditional voluntary contributionsAdditional payments to a tax deferred savings account or an occupational pension scheme by an employee to boost a pension at retirement. Nondeductible contributionNondeductible contributionA contribution to either a traditional IRA or Roth IRA. Income tax is due on the contribution in the tax year for which the contribution is made. Excess contributionExcess contributionThe amount by which an IRA contribution exceeds the allowable limits. If an excess contribution is not properly corrected, a 6% IRS penalty applies. ContributionContributionMoney placed in an individual retirement account (IRA), an employer-sponsored retirement plan, or other retirement plan for a particular tax year. Contributions may be deductible or nondeductible, depending on the type of account. Contribution marginContribution marginThe difference between variable revenue and variable cost. Further SuggestionsGeneral Average Contributionmoney purchase scheme (defined contributions scheme) defined contribution pension plan simplified defined contribution scheme Federal Insurance Contributions Act Equal percentage contribution rule (EPCoR) Contribution Defined contribution plan free standing additional voluntary contributions National Insurance (NI) Contributions Contributions Agency Equity contribution agreement voluntary deductible employee contribution plan |
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