If you are automaticallycontributing funds to your HSAthrough payroll deductions, it won’t be possible to contribute too much to aHealth Savings Account. However, it is possible to over-contribute by making deposits outside of the payroll system. If you discover you have contributed too much t...
Maximizing contributions to tax-advantaged retirement accounts is one of the most potent ways to reduce your tax burden. For many middle-class workers, this starts with their employer-sponsored 401(k) plan. By contributing pre-tax dollars, you lower your taxable income for the year while saving...
That’s why there are catch-up contributions. As the name implies, catch-up contributions are a way to boost retirement savings by contributing a little extra to your IRAs, youremployer-sponsored accounts—including a401(k)or 403(b)—or even ahealth savings account(HSA). ...
If you exceed both the deductible traditional IRA and the Roth IRA income limits, consider contributing to a non-deductible traditional IRA. This still allows you to contribute to an IRA, even though you don’t get the tax deduction when you file your return. ...
It also takes the guesswork out of retirement planning, since you know the money in your account is not taxable.. Finally, you aren’t required to take distributions, so you can leave money in your account and continue to let it grow. (This can also be advantageous for estate planning.)...
一周一更 Laura Adams provides short and friendly personal finance, small business, real estate, and investing tips to help you live a richer life. Whether you're just starting out or are already a savvy investor, Money Girl's advice will point you in the right direction....
It also takes the guesswork out of retirement planning, since you know the money in your account is not taxable.. Finally, you aren’t required to take distributions, so you can leave money in your account and continue to let it grow. (This can also be advantageous for estate planning.)...