Are you looking for new ways to stretch your budget and save on taxes? If so, consider taking advantage of the health savings and/or spending accounts that may be provided by your employer. These tools offer potential tax advantages and savings opportunities.
Can you believe over 52 million Americans have over 4 trillion dollars invested in 401(k) accounts? While most understand the mechanics behind the 401(k) – allowing workers to save and invest a portion of their paycheck before taxes are taken out – many are not aware that there are things to think about regarding maximizing your account’s financial security.
While many in the LGBTQ+ community do extremely well for themselves, a large number struggle for basic things like housing and food. Wherever you stand – it is important to be proactive and take steps to make smarter financial decisions.
Health savings accounts offer taxpayers one of the most favorable ways to save money. With contributions that are tax-deductible and distributions that are tax-free as long as they're used for qualifying medical expenses, HSAs offer a double benefit that you won't find with IRAs, 401(k)s, or most other types of tax-favored accounts.
January is a good time to kick start some habits that will up your money game and help you reach your goals, whether you want to build an emergency fund or save for the next big vacation. Try these strategies to set yourself up for success.