Use a Coverdell ESA to Help Pay College, Elementary, and Secondary School Costs
One way to save for your child’s or grandchild’s education is with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for contributions made to an ESA, the earnings on the contributions grow tax-free. Additionally, no tax is due when the funds in the account are distributed, to the […]
Setting up a Health Savings Account for Your Small Business
With the escalating cost of employee health care benefits, your business might be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs for eligible individuals. Here are the key tax […]
