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-   -   Savings Bond payroll deductions (https://www.askmehelpdesk.com/showthread.php?t=235966)

  • Jul 10, 2008, 10:38 AM
    mstrawn
    Savings Bond payroll deductions
    Can payroll deductions for United States Savings Bonds qualify as a pre-tax benefit to reduce income tax liability
  • Jul 10, 2008, 08:58 PM
    delite
    In general no. as such no tax deduction from wages for bond purchases without bonafide ira, or 401k .
  • Jul 10, 2008, 09:32 PM
    MukatA
    Inverstment to U.S. saving bonds is not tax deductible.
  • Jul 11, 2008, 06:01 AM
    AtlantaTaxExpert
    While MukatA's assertion is correct, it is not complete.

    If you use the proceeds from cashing in Savings Bonds to pay for higher education costs, the interest on the bonds may be exempt from taxation.

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