An Individual Retirement Account (IRA) is a trust fund designed for individual employees to save for retirement with tax advantages. Contributions, limits, and tax benefits all depend on various conditions such as income level and participation in other qualified plans.
A 'qualified charity' or 'qualified charitable organization' is a nonprofit organization recognized by the IRS as eligible to receive tax-deductible contributions.
An investment vehicle created under the Small Business Job Protection Act of 1996 that allows individuals to make tax-deductible contributions to accounts that accumulate tax-free income if used to cover a beneficiary's qualified educational expenses.
Money contributed to a proposed development or investment that is typically tax-deductible, or refers to development costs that do not go into physical construction.
