Tax-Free Growth

Coverdell Education Savings Account (ESA)
A Coverdell Education Savings Account (ESA) is a type of Individual Retirement Account (IRA) designed to help parents save for their child's education expenses. These accounts allow for tax-free growth and withdrawals for qualified education expenses.
Roth IRA
An individual retirement account (IRA) created by the Taxpayer Relief Act of 1997 that allows capital to accumulate tax-free under certain conditions.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.