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Government often tax the income of its people. The reason why might he be right is that if an individual expect tax rates to go up or because one is starting your career and your tax bracket would be lower now than what it will be later on.

  • When an individual is older and in retirement, the person would want to save your money and not have to worry about any taxes.

  • Tax advantages simply defined as the economic bonus that applies to some accounts or investments that an individual has such as one gotten by statute, tax-reduced, tax-deferred, or tax-free.

Conclusively, An Examples of tax-advantaged accounts and investments are retirement plans, education savings accounts, medical savings accounts etc.

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