tax-deductible contribution
21401(k) — In the United States of America, a 401(k) plan allows a worker to save for retirement while deferring income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wage paid directly, or… …
22Non-profit organization — A non profit organization (abbreviated NPO , also not for profit ) is a legally constituted organization whose objective is to support or engage in activities of public or private interest without any commercial or monetary profit. In many… …
23executive pension plan — EPP A pension for a senior executive or director of a company in which the company provides a tax deductible contribution to the premium. An executive pension plan may be additional to any group pension scheme provided by the company, as long as… …
24Roth IRA — A Roth IRA is an Individual Retirement Account (IRA) allowed under the tax law of the United States. Named for its chief legislative sponsor, Senator William Roth of Delaware, a Roth IRA differs in several significant ways from other… …
25Health savings account — A Health Savings Account (HSA) is a tax advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal… …
26Traditional IRA — A traditional IRA is an individual retirement account (IRA) in the United States. The IRA is held at a custodian institution such as a bank or brokerage, and may be invested in anything that the custodian allows (for instance, a bank may allow… …
27501(c) — is a provision of the United States Internal Revenue Code (usc|26|501(c)), listing 28 types of non profit organizations exempt from some federal income taxes. Sections 503 through 505 list the requirements for attaining such exemptions. Many… …
28Health and Welfare Trust — A Health Welfare Trust (HWT) is a tax free vehicle for financing a corporation s healthcare costs for their employees. They were introduced in 1986 by Canada Revenue Agency (CRA) in their interpretation bulletin entitled IT 85R2. Few companies… …
29Health insurance in the United States — The term health insurance is commonly used in the United States to describe any program that helps pay for medical expenses, whether through privately purchased insurance, social insurance or a non insurance social welfare program funded by the… …
30Registered Retirement Savings Plan — A Registered Retirement Savings Plan or RRSP is an account that provides tax benefits for saving for retirement in Canada. RRSP refers to a provision in the Income Tax Act that allows a person to shelter financial property from income taxes.RRSPs …
