Nov 22, 2010 | FAQ, Knowledge Portal, SEP IRAs
Source: IRS.gov A SEP is a simplified employee pension plan. A SEP plan provides employers with a simplified method to make contributions toward their employees’ retirement and, if self-employed, their own retirement. Contributions are made directly to an Individual...
Nov 22, 2010 | Coverdell Education Savings Accounts (ESA), FAQ, Knowledge Portal
Source: www.IRS.gov IRS TAX TIP 2008-59 A Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents and students save for education expenses. The total contributions for the beneficiary of this account cannot be more than $2,000...
Nov 22, 2010 | FAQ, Knowledge Portal
Source: IRS.gov www.irs.gov Generally, compensation is what you earn from working. For a summary of what compensation does and does not include, see Table 1-1. Compensation includes all of the items discussed next (even if you have more than one type). Wages,...
Nov 22, 2010 | FAQ, Health Savings Accounts (HSA)
sources: www.IRS.gov A health savings account (HSA) is a tax-exempt trust or custodial account that you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. You must be an eligible individual to qualify for an HSA. No permission...
