Comparison of H.R. 1215's "American Dream Savings" account to current IRA provisions

Article Abstract:

Present value analysis of contributions to deductible individual retirement accounts (IRAs), nondeductible IRAs and back-ended American Dream Savings (ADS) accounts reveals that the performance of the proposed ADS accounts relative to the existing accounts depends on relative marginal tax rates. The ADS program has been proposed by both Pres Clinton and the Republican House of Representatives. The ADS outperformed the nondeductible IRA for all tax rates. The ADS only outperformed the deductible IRA when the distribution phase tax rate was higher than the accumulation period tax rate.

Individual retirement accounts

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Helpful tax strategies to reduce college costs

Article Abstract:

College costs may be reduced through educational tax incentives, credits and deductions provided by the 1997 Taxpayer Relief Act. The law's tax-favorable changes affected educational loan interest deductions, home equity loans used for education, and penalty-free IRAs withdrawals, while authorizing the establishment of education individual IRAs. State tuition prepayment programs (STPPs), educational savings bonds, tax credits, and deductible expenses are also covered by the Act.

Colleges & Universities, Colleges, Universities, and Professional Schools, Colleges and universities, Methods, Finance, Universities and colleges, Tax planning, Expense deductions, Prepaid tuition programs

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New tax law provides challenging curriculum for college saving

Article Abstract:

The author discusses the Economic Growth and Tax Relief Reconciliation Act of 2001's college savings tax incentives.

United States, Planning

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