No, a 401(k) is not considered an IRA; although, it is a tax-advantaged retirement account.
An IRA (individual retirement arrangement) has to be specifically opened and contributed to through a financial institution. This is done with your after-tax paycheck dollars and is completely independent of your work salaries and wages.
When you put money into an IRA, you indicate whether you would like to open a Traditional IRA or a Roth IRA. Depending on eligibility, Traditional IRA's may be tax-deductible; however, the entire amount is taxed when you take the money out. On the other hand, contributions to a Roth IRA are not deductible, but the entire amount will not be taxed when you take it out at retirement.
No, a 401(k) is not considered an IRA; although, it is a tax-advantaged retirement account.
An IRA (individual retirement arrangement) has to be specifically opened and contributed to through a financial institution. This is done with your after-tax paycheck dollars and is completely independent of your work salaries and wages.
When you put money into an IRA, you indicate whether you would like to open a Traditional IRA or a Roth IRA. Depending on eligibility, Traditional IRA's may be tax-deductible; however, the entire amount is taxed when you take the money out. On the other hand, contributions to a Roth IRA are not deductible, but the entire amount will not be taxed when you take it out at retirement.
Can you. Please. Locate it;
For. Me
Thank you
Mr.luna
This is a public forum ... no one here can do anything for you even if we knew what you were talking about.