If you have an HSA, or Health Savings Account, you need to know what eligible expenses are allowable in 2014 for deduction under the rules set forth by the IRS. You can spend money from your HSA tax-free as long as it's put towards a "qualified medical expense." This includes all prescription medication, medical … [Read more...]
Roth IRA Conversions: Rules for 2022
First introduced in 1974, the Individual Retirement Account (IRA) has been a preferred way for U.S. citizens to save money for retirement. Although the rules governing IRAs have changed over the years, the basic idea behind an IRA remains the same in, namely, to provide IRA holders tax advantages that encourage them … [Read more...]
2022 Simple IRA Contribution Limits & Maximum Rules
Do you know your Simple IRA contribution limits for 2022? They are much different than your standard IRA contribution rules. When people contribute to a Simple IRA, as opposed to a Roth IRA or traditional IRA account they do so through employer contributions and contributions involving reductions in salaries. Simple … [Read more...]
