No taxes now. Yes taxes later. Stack with your 401(k)
Traditional IRAs are [[Tax-Deferred (aka ‘pre-tax’)]] accounts, meaning contributions to a traditional IRA are tax-deductible. Withdrawals are not.
Traditional IRAs (and Roth IRAs) are have contribution limits separate from the 401(k)-type accounts. Meaning IRAs and 401(k) can be stacked to increase your overall contribution amount.
There are some income limits that may affect your ability to even contribute to a traditional IRA. Traditional IRAs and the other accounts listed above can be stacked, raising your overall ability to save in a tax-deferred way.