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IRAs and Health Savings Accounts

No one needs to tell you the the value of an Individual Retirement Account. We all know how important it is to put aside some funds to make our retirements comfortable and affordable. Come in and let our staff show you how to get started today.

Roth IRAs

A Roth IRA is an individual retirement account created by the Taxpayer Relief Act of 1997. Unlike traditional IRAs, your contributions to a Roth IRA are not tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free. You must conform to the plan provisions to get this tax-free advantage. Please call or email us to receive a brochure.

Traditional IRAs

Traditional IRAs offer tax-deferred earnings and the possibility for tax-deductible contributions. You can contribute to a traditional IRA if you earn compensation and you will not reach age 70 by the end of the year. The ability to defer taxes on the earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement. Please call or email us to receive a brochure.

Coverdell Education Savings Account

The Education IRA, recently renamed the Coverdell Education Savings Account, is a type of tax-advantaged savings account. Unlike traditional IRAs, your contributions to a Coverdell ESA are not tax-deductible. However, a Coverdell ESA offers you the potential for tax-free withdrawals, including earnings. Please call or email us to receive a brochure.


Health Savings Account

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers enrolled in a High Deductible Health Plan.

What are the advantages of an HSA?

  • HSAs roll over and accumulate year to year if not spent.
  • Money contributed to an HSA is tax deductible on your income tax filing.
  • Helps you save for current or future medical expenses.
  • Access your funds by debit card or checks!
  • No monthly fee.

*Contact a tax professional for more information on maximum contribution amounts, other limitations and to see if you qualify.

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