Can payroll deductions for United States Savings Bonds qualify as a pre-tax benefit to reduce income tax liability
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Can payroll deductions for United States Savings Bonds qualify as a pre-tax benefit to reduce income tax liability
In general no. as such no tax deduction from wages for bond purchases without bonafide ira, or 401k .
Inverstment to U.S. saving bonds is not tax deductible.
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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