Answered

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Oscar is a good saver and uses his employer's benefit package. What other tax incentive option can he research? (5 points)

Roth IRAs

Contribution matching

Fixed-interest options

Checking accounts

Sagot :

Samawati

Answer:

Roth IRAs

Explanation:

A Roth IRA is an individual retirement savings account tax-free withdrawals in retirement. The money that one saves in an IRA account is not subject to any taxation at the time of withdrawal if all conditions are met. A Roth IRA account allows one to pay for taxes now on small amounts and avoid paying taxes on huge amounts upon retirements.

Oscar should research a Roth IRA account and consider it for retirement savings. The account will allow him to save for many years and not pay taxes on the savings gains. The savings on the Roth IRA can be passed to beneficiaries and be withdrawn tax-free.

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