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.
You contribute $6,000 to a Traditional IRA in 2010 (tax deductible) Total: $6,000 pre-tax. You contribute $6,000 to a Traditional IRA in 2011 (tax deductible) Total: $12,000 pre-tax. You contribute $6,000 to a Traditional IRA in 2012, but find out your income is too high to take the deduction (not tax-deductible) Total: $12,000 pre-tax, $6,000 post-tax.