Dealing with a health crisis can be very challenging as it takes a toll on not just your physical but your mental health, and it can be costly. Regarding taxes, medical expenses are...
A flexible spending account, or FSA, is a pre-tax expense account that many employers offer for employees' benefit. These bills allow you to pay necessary expenses without paying...
What is a health expense reimbursement agreement (HRA)?A health reimbursement agreement (HRA) is an employer-funded plan that reimburses employees for eligible medical expenses and,...
Posted by Schneiderman and Friedman on 01/18/2021
Thanks to the Internal Revenue Service's (IRS) cost-of-living adjustment, you can save more money on retirement plans and health savings accounts (HSAs) by 2020. This year, good...
The federal government estimates that approximately 60% of people use paid tax preparers to complete and file their tax returns. If you fall into this category, you have nothing to...
Posted by Tim Thompson CPA PLLC on 06/15/2020
The amount paid within the year for medical expenses involving health insurance premiums tender’s generous potential deductions and cuts during the tax period.Obtaining specific...
During the last few months, the IRS has been busy. People in or near their retirement is where some of its work mainly focuses on. Under the tax code, the health portion genetic-testing...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 10/25/2019
At the birth of the child, this child becomes dependent on his taxes. It does not matter if the child were born on January 1st or December 31st at 11:59 pm As long as your child came...
Posted by Valderas Financial Solutions LLC on 08/28/2019
The Internal Revenue Service recently announced new, higher commitment limits for health savings account from 2020. HSAs are the ideal approach to save having a three-fold tax effects...
Posted by John Pournaras Agency on 07/29/2019