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06 Sep '23The HSA Tax-Advantage Triple Play (Health Savings Accounts)
Continue readingA Health Savings Account (HSA) is a tax-advantaged savings account designed for individuals and families with high-deductible health insurance plans (HDHPs). HSAs are intended to help people save money for qualified medical expenses while also offering tax benefits. Here are some key features and benefits of HSAs: High-Deductible Health Plan Requirement: To be eligible for […]
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17 May '23The Ultimate Guide: Converting US Savings Bonds to a 529 Plan
Continue readingParents can avoid taxes by rolling over savings bonds to a 529 plan. We will discuss how to convert United States savings bonds into a 529 plan, without paying Federal tax on the earnings. If you are a long-time Wealth45 reader, you know we have touted the high interest rates paid on Series I savings […]
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23 Mar '23Donor Advised Fund for Nifty Gifting
Continue readingA donor-advised fund (DAF) is an investment account specifically designed for charitable giving. It allows you to donate cash, appreciated securities, or other assets to a sponsoring charity (i.e., the DAF sponsor). You receive an immediate tax deduction, and then recommend grants from the fund to your favorite charities over time. DAF Benefits One […]
