More On Tax Planningfrom The Advisor's Professional Library
- IRAs: In General Individual Retirement Accounts are highly popular tools for contributing funds that grow on a tax deferred basis. Depending on the type of IRA, the accumulation can be tax free.
- Health Insurance: Health and Medical Savings Accounts A Health Savings Account is a trust created exclusively for the purpose of paying qualified medical expenses of an account beneficiary. Although they are popular, they are not without their pitfalls and the regulations can be complicated. Learn more about how to avoid federal taxation on the accumulation and distributions of HSA.
Fidelity Investments announced Friday that its IRA clients could make deposits using the Fidelity Investments for iPad app.
Fidelity receives approximately 45% of annual IRA contributions in the 28 days ahead of the April tax deadline. To accommodate those investors, the app allows them to take a picture of their check with the camera on their iPad and send it to Fidelity to be deposited in their traditional or Roth IRAs, or into a brokerage account.
“Fidelity has a long history of addressing customer needs and providing investors with service and innovation they cannot get elsewhere,” Richard Blunck, executive vice president of digital distribution for Fidelity, said in a press release.
Fidelity has offered mobile checking on its brokerage accounts since May 2011, and deposits made using that service have increased steadily. In fact, Fidelity reports that its mobile tools enjoyed triple-digit growth in 2011 for the second consecutive year. Between Dec. 31, 2010, and Dec. 31, 2011, year-over-year logins increased nearly 100% across all devices.
The app is available for free from the iTunes app store.