October 15, 2019

Use a Coverdell ESA to help pay college, elementary and secondary school costs

Coverdell Education Savings Account (ESA), Tax, Tax Planning, Tax Savings / Douglas Freeman

There are several ways to save for your child’s or grandchild’s education, including 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. In addition, no tax is due when the funds in the account are […]

Use a Coverdell ESA to help pay college, elementary and secondary school costs Read More »

Setting up a Health Savings Account for your small business

Business Income Tax, Deductions, Employee Benefits, Employees, High Deductable Health Plan, HSA, Tax, Tax Deduction / Douglas Freeman

Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Here are the key tax

Setting up a Health Savings Account for your small business Read More »