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...]
401k Contribution Maximum Limits 2022
Each year the IRS lays out rules that determine the 401k contribution maximum limits for an individual contributing to a 401(k). Generally, the IRS adjusts this amount with inflation, and these 401k contribution limits and withdrawal rules are changing both in the years 2022 and 2021. This is important because 401k's, … [Read more...]
2022 SEP IRA Contribution Maximums & 2021 Limits
SEP IRA contribution limits for 2022 are changing. SEP's are Simplified Employee Pension (plans). You can benefit from a SEP IRA if you own a small business or are self-employed. The federal government rules let you use an SEP plan as an easy way to contribute to your employees' retirement savings or your own … [Read more...]
