Answer by tamarawilhite (17883). If it is a traditional IRA, you can deduct that amount off your income taxes. If it is a Roth IRA or Roth 401K contribution, the money comes out of your post-tax income and does not reduce your income taxes.
Reports last week revealed that around 20 actors, presenters and journalists are paid more than Â£500,000 by the BBC, but Sir Michael's promise to MPs that the corporation would publish more precise pay bands will not be upheld following legal advice.
Based on reports of his estimated Â£1million annual salary, it means the BBC will have paid him nearly Â£74,000 from the point he was suspended until the end of March. Scroll down for video. Sacked: The BBC said it had not renewed Jeremy Clarkson's contract for his 'unprovoked' attack on Top Gear producer Oison Tymon.larkson has reportedly told friends that the BBC's management have been 'out to get' him, and sources at the BBC have suggested that its director of TV, Danny Cohen, has seized on the incident as the reason he needs to oust the controversial figure.