Investments qualifying for tax-deferred status typically include annuities, stocks, bonds, IRAs,Registered Retirement Savings Plans (RRSPs), and certain types of trusts.Traditional IRAsand variants geared toward self-employed people, such asSEPandSIMPLE IRAplans, all fall under the category of qualifyi...
For instance, the working spouse can claim an IRA deduction for a nonworking spouse. Although a couple filing separately can claim an IRA contribution, the phaseout limit for a married person filing separately is $10,000 of modified adjusted gross income (MAGI), which, for most individuals, ...
The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of high deductible health plan coverage (i.e., single or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for...
Funding a Roth TO CLAIM A TAXdeduction for your traditional IRA contribution, much hinges on whether you’re covered by a retirement plan at work. That doesn’t come into play with a Roth IRA. Instead, all that matters is your income. If you are single or head of household and you hav...