Connect

Our Blog

We’re dedicated to providing you with educational financial content. Learn to invest and align your wealth with your values – the Azzad way.
Purifying your investments from haram money Azzad Asset Management Halal Investing Firm
Purifying your investments from haram money
Continue Reading
Purifying your investments from haram money Azzad Asset Management Halal Investing Firm
Purifying your investments from haram money
Continue Reading
Azzad Financial Assessment Questionnaire
Continue Reading
Understanding taxes on your investment accounts
Understanding taxes on your investment accounts
Continue Reading
Azzad Asset Management - An HSA has 3 tax benefits, not found in any other account type. First, contributions are tax-deductible. Second, there is no taxation on funds while they are growing in the account, and third, distributions taken for qualified medical expenses are tax-free. That’s a sweet deal! An HSA essentially offers you the tax-deduction and tax-deferral of a 401K combined with the tax-free withdrawal on earnings (used for qualified expenses) of a Roth IRA. Like these accounts, there are eligibility rules for who is qualified to contribute and what you can spend the money on. Similarly, you can invest your HSA in one of Azzad’s investment products. Here’s how an HSA works: each year, you decide how much you want to contribute to your account (up to the IRS maximum limits). You can use the funds in your account to pay for eligible medical expenses not covered by your plan (note: insurance premiums aren’t eligible). Unlike a Flexible Spending Account (FSA), your balance rolls over from year to year, so you never have to worry about losing your savings. Plus, once you reach age 65, you can withdraw from your HSA for any reason. Of course, you’ll pay taxes on distributions used for non-medical expenses, but no penalty. You never pay a penalty on any distributions after age 65. To qualify for an HSA, you must be enrolled in a high-deductible health insurance plan (HDHP) as defined by the IRS every year. The IRS determines the minimum deductible your plan must have and the maximum amount you can spend out-of-pocket. If in doubt, ask your insurance broker if your plan is “HSA-eligible”. Once you’re over age 65 and enrolled in Medicare, you are no longer eligible to contribute to an HSA. Of course, you can still use your funds to pay for out-of-pocket medical expenses. Your HSA continues to offer you powerful tax benefits, including more flexibility with your tax and penalty-free distributions. Navigating HSAs can be confusing, so give us a call to find out if an HSA can work for you?
A health savings account (HSA) can deliver triple tax benefits. Is one right for you?
Continue Reading
10 lessons every investor should have learned from last year
10 lessons every investor should have learned from last year
Continue Reading
American Rescue Plan Act Provides Relief to Individuals and Businesses
American Rescue Plan Act Provides Relief to Individuals and Businesses
Continue Reading
Due Date for Federal Income Tax Returns and Payments Postponed to May 17
Due Date for Federal Income Tax Returns and Payments Postponed to May 17
Continue Reading
Delaware Funds by Macquarie
Continue Reading
Due Date Approaches for 2020 Federal Income Tax Returns
Due Date Approaches for 2020 Federal Income Tax Returns
Continue Reading
An Islamic perspective on short selling
An Islamic perspective on short selling
Continue Reading
GameStop FAQs by Azzad Asset Management
GameStop FAQs
Continue Reading
Halal-Investing-101-Back-to-Basics - Azzad Asset Management
Halal Investing 101: Back to Basics
Continue Reading

Get Started Today

Let’s build the financial life you want – together.

Schedule Now
Linkedin Youtube Facebook

3141 Fairview Park Drive, Suite 355, Falls Church, VA, 22042

888-862-9923

Quick Links

Other Links

Get Our Insights

© 2024 Azzad Asset Management. All Rights Reserved

Azzad Asset Management

You are about to leave the Azzad website and enter a third-party website. We are not responsible for and cannot guarantee the accuracy of any information on a third-party website.

You will be redirected to

Click the link above to continue or CANCEL

Mid Cap Growth Mutual Fund (ADJEX) | Managed by Azzad Asset Management
My Account
Connect
Search