Which of the following accounts can provide tax benefits when contributions are made?

The correct answer highlights accounts specifically designed to offer tax advantages, particularly when contributions are made. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) allow individuals to set aside pre-tax earnings for qualified medical expenses. Contributions to these accounts can reduce taxable income, providing immediate tax benefits. Withdrawals from HSAs used for eligible healthcare costs are also tax-free, which further enhances their appeal in tax planning.

While retirement accounts are indeed beneficial in terms of tax deferral or tax-free growth (depending on the type), the question specifically emphasizes accounts that provide tax benefits at the point of making contributions. Therefore, HSAs and FSAs fit this description perfectly. Regular savings accounts and investment accounts do not typically offer any tax advantages upon contribution. They may generate interest or income, but those earnings are often subject to taxation, making them less favorable in the context of immediate tax benefits.