Qualified Account

An account that allows for a tax break on the contributions you make to it. Qualified accounts, like a 401(k) allow you to funnel a portion of your paycheck each month into the account, which reduces your overall taxable income— meaning you pay less in taxes at the end of the year. (See also: Nonqualified Account)

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2017-12-13T16:04:53+00:00

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