A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Health Savings Account (HSA)A tax-advantaged account for medical costs, paired with a high-deductible health plan, offering strong tax benefits.
- Pre-Tax ContributionMoney put into an account before taxes are applied, lowering your taxable income now and taxed on withdrawal later.
- Tax-Advantaged AccountAn account offering tax breaks on contributions, growth, or withdrawals to encourage saving for goals like retirement.
- DependentA qualifying child or relative you support financially, which can unlock deductions and credits on your return.
- WithholdingMoney your employer takes out of each paycheck and sends to the government toward your expected tax bill.
More in Taxes
1099Adjusted Gross Income (AGI)Alternative Minimum Tax (AMT)Capital Gains TaxChild Tax CreditDividend Tax
Plain-English education — not personalized legal, tax, or investment advice.