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 a Traditional 401(k), the money you contribute is pre-tax earnings. Instead of getting taxed now, your contributions and earnings on those contributions are allowed to grow in a tax free account until they are withdrawn. At that time, withdrawals are taxed as ordinary income. If thatâs the case, you can rollover your Traditional 401(K) to a Roth IRA that year and pay the low income tax rate. 2  Eligible for a greater number of deductions and credits since a Traditional 401(k) reduces your taxable income.