Expert Insights Tax & Accounting

Due to the destruction caused by earthquakes and aftershocks beginning on March 18, 2020 in parts of Utah, the Internal Revenue Service (IRS) announced that affected taxpayers will receive tax relief.

Software developers take advantage of product usage information to enhance performance and make quick software changes to maximize utilization. These capabilities aren’t limited to just software developers, though.

A Health Savings Account (HSA) is a tax advantaged account meant to hold assets that can later be used to reimburse or pay for qualified medical expenses of an HSA owner, his/her spouse, and his/her dependents. Similar to an IRA, it is an individual account. There is no such a thing as a joint, self-only, or family HSA.

This article will review how enrollment in Medicare may affect an individual’s ability to make HSA regular contributions.