What is a YMCA tax deferred savings account?

Answer YMCA employees can make voluntary deposits from their paycheck into the YMCA Tax Deferred Savings Account, a 403(b) plan sponsored by the YMCA Retirement Fund. Taxes on the deposit and any interest... Read More »

Top Q&A For: What is a YMCA tax deferred savings account

What is a tax-deferred savings account?

Tax-deferred savings accounts allow you to save money now (using pre-tax income) and pay taxes (on distributions) later. Retirement accounts such as a 401(k) and the traditional IRA provide tax-def... Read More »

Can Savings Bonds Be Tax Deferred for College Tuition?

When it comes to providing the money for college tuition, the federal government provides an option that allows taxpayers to avoid paying taxes on savings bond interest. If you follow the rules of ... Read More »

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

What is the difference between a health savings account&a flexible spending account?

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are ways to put money aside for future heath care costs. Both provide tax advantages, but the qualifications and functions of th... Read More »