1. a usually chile plural chilÂ·es: a hot pepper of any of a group of cultivars (Capsicum annuum annuum group longum) noted for their pungency âcalled also chili pepper b usually chilli plural chillies also chilÂ·lis chiefly British: a pepper whether hot or sweet. 2.a: a thick sauce of meat and chiles. usually chile plural chilÂ·es: a hot pepper of any of a group of cultivars (Capsicum annuum annuum group longum) noted for their pungency âcalled also chili pepper b usually chilli plural chillies also chilÂ·lis chiefly British: a pepper whether hot or sweet. 2.
The primary benefit of a traditional IRA is that in most cases, the contributions are made on a pre-tax basis. This means that when you deposit money into the IRA, you can deduct that amount from your taxable income. This results in paying less income tax for the year.
In both Roth IRA and non-deductible traditional IRA, contributions are non-deductible, meaning that you fund them with after-tax money. The major difference comes from the way earnings are taxed. Earnings are taxed as ordinary income if you withdraw them from a non-deductible traditional IRA.