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For questions related to investments which are tax-free.

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1answer
86 views

Transfer of UK Savings to USA

Since their birth (10 years) I have been saving money into a tax free account for my grandchildren in a UK bank. I now wish to transfer the lump sum to them in USA. They have UK and US citizenship as ...
0
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1answer
53 views

Investing in grandfathers name to save tax in India

I was looking for saving tax by investing/gifting to parents. My father/mother is paying tax, instead can I gift my money to grandfather to save tax ? Grandfather does earns so easily 20 lakh could ...
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1answer
21 views

How to declare interested earned from unmatured NSC (5 years) in ITR

5 year NSC shows its interest earned is reinvested every year, So I can clam it under 80C. But there is no interest entry made by the Post Office department against NSC. How can I declare such ...
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5answers
1k views

Scared of money being “locked away” in retirement accounts

I have a reasonably comfortable emergency fund, some other savings, and some accounts I manage myself invested in stocks and funds. However I have only a minimal sum in pensions and retirement ...
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3answers
491 views

Best way to invest around 50k Indian rupees and save Tax

I am a 27 year old from India, My salary is 4,20,000 per annum. I don't have any insurance or any other investment plan right now. I want to invest 50,000 Indian rupees, such that I get a good ...
4
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3answers
351 views

Confused about 'tax free income'

I'm from New Zealand and just started working here in the UK in July 2016 on a 2 year working holiday visa. My partner and I both started working around the same time (different employers), however I ...
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0answers
75 views

Delaware tax free shopping

I heard that Delaware is tax-free state. If I'm not from US, do I have to pay some taxes when I buy some stuff (like iPad) in Delaware and come back to Europe?
1
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1answer
251 views

Taxes on foreign and local dividends held in a TFSA

As far as I read in many articles, all earnings (capital gains and dividends) from Canadian stocks will be always tax-free. Right? In contrast, holding U.S. or any foreign stock that yields dividends ...
3
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1answer
3k views

In a Canadian TFSA, does interest earned within the account count toward the contribution limit?

I know that there is a limit in the contribution per year in a TSFA. At the moment (2016), if you have never made a contribution then you can contribute around $ 46 500. BUT, even though all ...
4
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2answers
166 views

Is there a trick with ISAs in the UK

I was looking on ISA faq on moneysavingexpert and I noticed the following: I do not understand the trick, say I put GBP100 on a 3% account and that ISA pays 1%. Can I NOT pay tax on the GBP3 I made ...
0
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2answers
53 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
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1answer
119 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 ...
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0answers
62 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
532 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
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2answers
84 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
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2answers
274 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
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1answer
113 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
552 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
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1answer
174 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 ...
8
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3answers
337 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 ...
3
votes
1answer
226 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
291 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 ...
5
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1answer
7k 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
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2answers
377 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 ...
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vote
1answer
351 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
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1answer
199 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 ...