Individual Retirement Arrangement (IRA)

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Individual Retirement Arrangement (IRA) Itemized Deductions Installment agreement Imputed (or Unstated) Interest Identifying Numbers Internal Revenue Service (IRS) Investment Interest Independent Contractor Installment Method Income Averaging Information Returns Inheritance Insolvency Insurance Dividends Intangible Personal Property Interest Received Investment Tax Credit Incentive Stock Option Income Investment Property Involuntary Conversion Inventory

Definition of Individual Retirement Arrangement (IRA):

A trust set up by an individual to act as a retirement account. The maximum contribution for 2009 is $5,000 or your taxable income amount, whichever is less. IRA contributions are only taxed when they are withdrawn, this allows you to take advantage of the compounding effect of interest.

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Individual Retirement Arrangement (IRA)

Definition of Individual Retirement Arrangement (IRA):

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