If you thought that Health Savings Accounts were only for the “big boys,” you couldn’t be more mistaken.
You see, proprietorships, S corporation owners, and C corporation owners can all benefit greatly from the HSA. How? You’ll find out when you read our latest article titled Tax Tips: Should You Have a Health Savings Account?
Three ways our fact-filled article can help you:
- You’ll learn about the three big advantages of the HSA. These include: 1. The tax deduction for your high-deductible insurance. 2. The tax deduction for the HSA investment account. 3. The tax-deferral and tax-free use of the HSA investment account. For the important details read the full article.
- We’ll explain how the investment part of the HSA works. The big difference between the HSA and the traditional IRA is the “lock up” of your investment money. With some exceptions, your traditional IRA investment is pretty much locked up until age 59 1/2. Your HSA investment is locked up too, but it is immediately and continuously available for medical bills without limit and without penalty. Get the whole story when you read the full article.
- We’ll tell you who is entitled to contribute to your HSA. There are three categories of people who may contribute to your HSA. We’ll spell them out for you when you read the full article.