There are Irish employee-leasing companies that supposedly enable high earners to create huge tax-deferred savings plans in Caribbean havens.
You get tax-deferred savings today and tax-deferred growth for decades to come.
With new legislation phasing in, your children will be more likely than ever to be letting some tax-deferred savings opportunities pass them by.
In the early eighties when his employer offered a tax-deferred savings plan he took advantage of it, but only up to the employer match.
If you have children or grandchildren to educate and you're unlikely to qualify for financial aid, the next item on your tax-deferred savings list would be a college fund.
The reduction in marginal tax rates is excellent for Silicon Valley, the dividend tax proposal will lower the cost of capital (even for startups) and the new tax-deferred savings vehicles will increase investment.
In earlier research, Mr. Mahaney highlighted another benefit to deferring benefits until later: If you expect much of your retirement income to come from tax-deferred savings, you might be better off using those assets first and delaying all, or a large chunk, of your Social Security.
For those impacted, their personal plans involving future investment, travel and savings were deferred simply to manage their way through their local emergencies.
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Section 529 college savings plans, deferred annuities and nondeductible IRAs are all examples.
Make the best use of funding tax-deferred and tax-free savings accounts, such as a Roth IRA, 401(K) plan, or 529 plans for college savings, etc.
This asset forms my savings, my deferred consumption.
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Money in 529 savings plans grows tax deferred and can be withdrawn federally tax free if used for certain educational expenses.
Once money is in a college savings account, it grows tax-deferred until withdrawn to pay for college tuition, books, room or board.
That way, their retirement savings could continue to grow tax-deferred.
Simplifying names to something as basic as Tax-Deferred Until Retirement and Tax-Free In Retirement would help people understand how their savings would be treated in the future as well as the benefits of using more than one retirement account type.
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"If the surviving spouse or the kids are relatively young, the extra years of tax-deferred compounding could actually be worth as much as or more than the estate tax savings, " says Pasadena, Calif. lawyer Steven Trytten, who has written software to evaluate such cases.
Then you may be looking at an assortment of savings plans whose contributions are not tax-deductible but whose earnings are tax-deferred.
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