Guide For Tax And Real Estate: Tax Savings Strategies: Save On Taxes Tips (Paperback) (ISBN-13: 9798455153952)

As we will see later, there are several types of IRA accounts available. The one most people think of when they think of an IRA is called a Traditional IRA. Generally, you get a tax deduction when you contribute money to a Traditional IRA. The money grows tax-free until you decide, or are forced, to make a withdrawal from your account. Though tax-free is the term often used, tax-deferred is a more accurate term.