July 31 Deadline: One Small Fee That Protects Your Entire HRA Deduction To get my complete article with all the details… You set up a health reimbursement arrangement to maximize tax deductions for medical expenses. Smart move. But there's a small annual filing requirement that comes with it — and skipping it could give the IRS a reason to question whether … [Read more...]
Medical (for 105 plans see Section 105 medical plan)
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Inherited HSA? The entire balance is taxable income — this year
“Inherited HSA? The Entire Balanceis Taxable Income — This Year" To get my complete article with all the details… Your client has been doing everything right with their HSA. Maximum contributions every year. No withdrawals. Letting it grow like a super IRA. Now they're seriously ill. Their adult child is the beneficiary. And nobody has told them what happens … [Read more...]
The ACA Subsidy Cliff Returns in 2026
“The ACA Subsidy CliffReturns in 2026” To get my complete article with all the details… If you’ve been carefully managing income to qualify for ACA premium subsidies, the rules just changed. The safety net that softened income miscalculations is gone. Here are three reasons this matters: The subsidy cliff is back. Go over 400% of the federal poverty level, … [Read more...]
Maximize Tax Savings with These Year-End Medical Plan Strategies
“2025 Last-Minute Year-EndMedical Plan Strategies” To get my complete article with all the details… As the year comes to a close, it’s the perfect time to ensure your business is taking full advantage of every available tax-saving opportunity. Medical plans for small businesses with 1-49 employees are an often-overlooked goldmine for deductions, credits, and financial … [Read more...]
July 31 Filing Deadline—$3.47 Could Save You a Headache
"Own a Business with an HRA?You’ve Got Form 720 to File on July 31" To get my complete article with all the details… If you use a Health Reimbursement Arrangement (HRA) like a 105-HRA, QSEHRA, or ICHRA to deduct medical costs and cover employee health benefits—great news! You're doing right for your workers and maximizing tax savings. But here’s the catch: Each … [Read more...]