The HSA – Health Savings Account – If you can, fund it !

This week we bring you another tax strategy that may save you extra dollars, while not mandatory before the end of the year – we find it MUCH less confusing to synch the year – make the deposit in the year of the deduction.

Recently in our end of the year tax strategies, we visited Pushing Income , Optimizing Donations, the week prior of IRA Distribution, and the week prior to that a Roth Conversion  to maximize your tax deductions. This weeks topic is simple, the HSA ! HSA

If you have a “High Deductible” health insurance plan – many more do recently, to smartly save on monthly premiums – if you can fund an HSA – DO SO NOW! 

FUND that HSA

Here are the limits from our friends at HSA Bank – (one of our favorite HSA investment options- there are many):

HSA 15 - 16 Limits HSA Bank

 

  • Age 55 – Not 50 for catch up increases
  • Almost without regard to investment, the tax savings are worth it
  • Pre-tax savings for future use or today
  • Pre-tax payments for today or tomorrow

These are just a few examples!

While we do not offer HSA savings plans, they are worth the time and effort to set up, the tax savings are terrific!

Any questions– just reach out- we will be glad to help!

Have a Great — Less Taxable — Day!

John A. Kvale CFA, CFP

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225


 

 

2 responses to “The HSA – Health Savings Account – If you can, fund it !

  1. Pingback: The SEP – Simplified Employee Pension – A Favorite Tax Deductible plan ! | $treet-¢ents

  2. Pingback: HSA Question Answered – Enjoy your weekend | $treet-¢ents

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