Investing & Retirement Planning
If you are younger than age 70 ½ for the entire tax year, and have compensation, you are eligible to establish and make an annual tax-year contribution to a traditional IRA.
A Roth IRA is an individual retirement account where regular contributions are not tax deductible, but distributions of these contributions are tax free.
Coverdell Education Savings Account (CESA)
A Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals of contributions and earnings for a very specific purpose – a child’s education expenses.
Health Savings Account
A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment.