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Tax Deferred Savings (IRA). IDS 1999 9/24/12 Ryan Cowan Blake Cowan (not related). What is Tax Deferred Savings?. S avings plan or account Registered with government Provides deferral of tax obligations Portion of current income 401K Plans. Individual Retirement Account (IRA). - PowerPoint PPT Presentation
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Tax Deferred Savings (IRA)
IDS 19999/24/12
Ryan CowanBlake Cowan(not related)
What is Tax Deferred Savings?Savings plan or accountRegistered with governmentProvides deferral of tax
obligationsPortion of current income 401K Plans
Individual Retirement Account (IRA)
Retirement planTax advantages Benefits taxpayers or their beneficiaries
Problems$142 Billion per year$788.3 Billion in the next 5 years2nd largest “tax expenditure”
What This Means for YouStart saving money earlyMoney for retirement Use savings at 59 1/2
Sources http://www.americanprogress.org/issues/open-gov
ernment/news/2011/01/19/8862/tax-expenditure-of-the-week-tax-deferred-retirement-savings/
http://en.wikipedia.org/wiki/Individual_retirement_account#Funding
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