The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: MSA Madness....NOT?!!!???||Date: 3/30/1998 12:13 PM|
|Author: Pooksterish||Number: 3123 of 121261|
I'm in the midst of doing some research on MSA's. I'd like to hear what you know about them to date.
I'm reading some stuff at the IRS web site and am confused about the tax benefits.
First of all it says that interest and other earnings on the assets in an MSA are tax free. And the contributions are tax deductable. Then is says that you can make tax-free withdrawals from the MSA to pay for qualified medical expenses. If I'm reading this correctly this is a fantastic deal! Much better than an IRA or a Roth IRA! No taxes whatsoever?!
Also, can an MSA be set up with a discount broker or mutual fund company the way an IRA can?
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