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Savings Account for Starting a Business?

June 29, 2017 / By Barbara Weltman

Incentivize Growth Now in Tomorrow’s Entrepreneurship Act 2017 (H.R. 2576) would create special savings accounts, permitting contributions up to $10,000 annually (adjusted for inflation). While contributions would not be deductible, earnings would be tax deferred and withdrawals to pay startup costs could be tax free.


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