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2answers
39 views

Provident fund - first job [closed]

I have joined my first job. While discussing about PF, my employer mentioned that both - the employer contribution and employee contribution to PF has to be paid myself. Is this right ? What does ...
1
vote
1answer
39 views

Tax exempt (EEE) options for tax saving in India

I'm looking for any tax saving options, which should be completely tax exempt (tax free at source, interest and withdrawal), similar to PPF. I have PPF account, and I'm not considering PPF for ...
1
vote
0answers
30 views

Coverdell ESA Tax Consequence For Corporate Contribution

I have a small business (C corp) and noticed that corporations can contribute to an Coverdell ESA account with no income limit. Can I create an ESA account for a child and fund it 100% from corporate ...
3
votes
1answer
218 views

TIAA-CREF equivalent or else other tax-sheltered plan types in Canada, beyond TFSA?

After reading the book "Money: Master The Game" by Tony Robbins, he mentions that many Americans use a TIAA-CREF account for tax sheltered savings. Besides a registered TFSA (Tax Free Savings Plan), ...
0
votes
2answers
66 views

At the federal level, are tax-free earnings the only tax advantage of 529 plans?

I heard the other day that president Barack Obama proposed start taxing earnings on 529 plans. I always thought that tax-free earnings were the only major advantage of 529 plans (other than the ...
5
votes
2answers
183 views

Tax deferred savings limits and early retirement possibilities

I've been listening to some financial independence podcasts where people claim that if you save 75% of your income into tax deferred retirement accounts, you wind up paying no income tax even with an ...
1
vote
1answer
51 views

Are retirement contributions for temporary workers in Canada mobile?

I am an American citizen about to start a temporary three-year position in Canada. It's possible but unlikely that I will settle in Canada permanently. Will I be required to contribute to a ...
2
votes
2answers
106 views

How does a TFSA work? Where does the interest come from?

I have extremely little knowledge about finance in general, but I have had a TFSA for several years now and know that my money keeps magically growing. Exactly where does the interest I gain come ...
2
votes
1answer
123 views

What are the risks to using a tax-free bond fund for short term savings (1-2 years)?

I'm saving some money, probably for a down payment house, and I'd like it to earn a bit more return than it would just sitting in cash. I max out my Roth 401(k) and my Roth IRA, so any additional ...
7
votes
3answers
285 views

What is the best approach to save money for College for three kids?

I have three kids ages 4, 3 and 0 and I am concerned about the cost of college education for my daughters. A lot of the "public" schools (not community colleges) cost between $20,000 to $24,000 a year ...
2
votes
1answer
114 views

Any savings vehicle which is sheltered from both US and Canadian income taxes?

I'm a US citizen living in Canada as a permanent resident. I earn income and receive interest/dividends from both countries. I file income tax returns in both countries. Every year I hear ...
8
votes
2answers
238 views

Are U.S. I Bonds good for extra savings?

I recently ran across an article about where to park extra cash that mentioned US I Bonds. I had never heard of them before. How do they work? Limitations or rules? Really tax free? I've had ...
4
votes
1answer
4k views

US ISA equivalent for tax exempt investment & savings

In the UK you can put up to £11,520 per year into an Individual Savings Account (ISA). This account allows you to invest in stock, unit trusts, index funds etc. and all income and capital gains are ...
3
votes
2answers
239 views

Is there a limit on how many times I can transfer my Individual Savings Account (ISA) in a given year? [UK]

The United Kingdom Individual Savings Account (ISA) provides a tax-efficient saving mechanism. It is possible to transfer your ISA from one bank to another, but is there any limit on how many times ...
1
vote
1answer
279 views

How does the 1% penalty on TFSA transfers work?

The maximum annual contribution limit to a TFSA is $5000 per year. This makes it a good emergency fund vehicle. If I: transfer money out before the new $5000 contribution credit starts for a new ...
5
votes
1answer
167 views

Year end for ISAs, is it worth squeezing more in quickly?

I opened an ISA about a month back (only have £110 in it at the moment) Tax year ends on 5th April, I could afford to put £1000 in my ISA, I would be skint until the next payday at the end of April ...