Tag: Tax Deferred

Taxes in Retirement

Hudson, NH Resident Seeks Guidance

A tax-deferred account offers immediate tax deductions for the full amount of the contribution.  Future withdrawals from a tax-deferred account are taxed at your ordinary income rate.  Tax-exempt accounts do not offer any tax benefits at the time of contribution.  However, any future withdrawals are tax-free including returns on the investment.

A resident in Hudson was looking for the best way to begin saving for retirement.  Confused about the difference between tax-deferred and tax-exempt accounts, he sought the advice of Merrimack Tax Associates.

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405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

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Thursday: Closed
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Tuesday: 9AM-5PM
Wednesday: 9AM-5PM
Thursday: 9AM-5PM
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