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.
Nick Robinson joined the BBC in 1986 as a trainee producer. He has been in his current role since 2005, having left the BBC for ITV for a short period. The sentiment was echoed by Prime Minister David Cameron and leader of the opposition Ed Miliband who both tweeted their best wishes.