before-tax contribution Hear it!

before-tax contribution Finance Definition
The part of an employee’s salary that is contributed to a retirement plan before federal income taxes are deducted. Before-tax contributions reduce the taxpayer’s gross income for federal tax purposes. A withdrawal from an account funded with before-tax contributions becomes taxable at the time of withdrawal.

Browse dictionary entries near before-tax contribution

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  6. ‹ befittingly
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  9. ‹ befit
  10. ‹ befell
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