Eligibility requirements for tax-advantaged accounts may include: part-time workers may be excluded from employer 401(k) plans; IRA contributions require earned income; Roth IRA and Coverdell ESA contributions are prohibited for high-income earners; HSA contributions require coverage under a high-deductible health plan; and Coverdell ESAs generally cannot be opened for beneficiaries aged 18 or older unless they have special needs.

Authors

• Person: Not available Organization: TurboTax
  Tax-Advantaged Accounts: How They Can Boost Your Savings

Sources

• Tax-Advantaged Accounts: How They Can Boost Your Savings turbotax.intuit.com TurboTax via serper

Referenced by nodes (1)

• 401(k) plan concept