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Is an HSA right for you

WEBTo help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax advantaged basis.

Actived: 6 days ago

URL: https://www.kbstm.com/is-an-hsa-right-for-you/

The IRS has announced 2022 amounts for Health Savings Accounts

WEBThe IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs. An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.”

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TCJA temporarily lowers medical expense deduction threshold

WEBWith rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a threshold for deducting medical expenses that may be hard to meet.

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Would you like to establish a Health Savings Account for your …

WEBWith the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA).

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2022 deadlines for reporting health care coverage information

WEBEver since the Affordable Care Act was signed into law, business owners have had to keep a close eye on how many employees they’ve had on the payroll.

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Is your wellness program built on a solid foundation

WEBIn a society increasingly conscious of well-being, with the costs of health care benefits remaining high, many businesses have established or are considering employee wellness programs.

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Are you eligible for a medical expense tax deduction

WEBYou may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses can be claimed as a deduction only to the extent your unreimbursed costs exceed 7.5% of your adjusted gross income.

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Seniors: Can you deduct Medicare premiums

WEBIf you’re age 65 and older, and you have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want.

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Key aspects of a successful wellness program

WEBWellness programs have found a place in many companies’ health care benefits packages, but it hasn’t been easy. Because these programs take many different shapes and sizes, they can be challenging to design, implement and maintain.

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Tax Preparation & Planning Services Towson, Timonium, Owings …

WEBAt KBST&M, we understand and assess how each component of your tax plan affects the entire picture. Together, we will help you develop an in-depth tax strategy that integrates with your business operations, and financial strategy and goals. Our tax services include: Tax Return Preparation and Planning: Businesses (Corporate, Partnership, LLC’s)

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The IRS clarifies what counts as qualified medical expenses

WEBIf you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for …

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Jeffrey N. Berman, CPA, CFP, PFS

WEBJeffrey N. Berman, CPA, CFP, PFS. Email: [email protected]. Jeff Berman is the Managing Partner with KBST&M, and has been with the firm since 1987. Since the beginning of his public accounting career, Jeff has developed specialized expertise in small business tax and accounting. In an arena beholden to ever-changing laws and …

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KBST&M, CPA's Baltimore, Maryland Accountants

WEBAt KBST&M, we know that each client has an individual situation that requires a dynamic and customized solution. The finance industry is constantly changing and evolving, so business owners and individuals need to be able to rely on steadfast professional accountants and advisors.

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Could captive insurance reduce health care costs and save your …

WEBIf your business offers health insurance benefits to employees, there’s a good chance you’ve seen a climb in premium costs in recent years — perhaps a dramatic one.

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Employers hit by rising health costs look to high-deductible plans

WEBThis entry was posted on Friday, November 9th, 2012 at 3:25 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2 major tax law changes for individuals in 2019

WEBWhile most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019.

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Could “bunching” medical expenses into 2018 save you tax

WEBSome of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility.

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Industries Served

WEBKBST&M holds long-standing relationships with businesses, nonprofit organizations, professional entities, and individuals throughout the United States.

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Management Advisory Services

WEBManagement Advisory Services - Towson, MD: When it comes to the bottom line of your company, you have to take the long view to ensure continued growth and success. Our team always advises with longer-term planning in mind, to help you meet your strategic and financial goals. We are your trusted partner in building and maintaining the success of …

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