Examlex
Explain when it is appropriate to use special journals.
Tax-Deferred Plans
Investment accounts that allow taxes on the principal and/or earnings to be paid at a future date instead of the year the investment earns income.
Pension Plan
A retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit.
IRA Contribution
Money placed into an individual retirement account (IRA) that may qualify for tax deductions or other tax advantages.
AGI
Adjusted Gross Income; a determinant of tax liability calculated by adjusting gross income for certain allowable deductions.
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