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Subject:  Re: IRA AND TAX QUESTIONS Date:  1/28/2009  5:03 PM
Author:  Crosenfield Number:  65233 of 88435

You can have both a 401k, 403b, and as many IRAs as you like. The total contribution you can make to your IRAs is the same as if you did not have a 401k or 403b. However, if you make over the limits of income already discussed, your IRA contribution will not be tax deferred. In other words, depending on your total income, you may not be able to lower taxable income, but once you have investments inside an IRA, you can trade or receive interest or dividends and there will be no tax on those proceeds.
You may consider a Roth IRA, if your income level allows it. In a Roth, the contributions are after tax but then if you follow the rules, there is no tax on the capital gains, dividends or interest within the Roth.

Best wishes, Chris
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