tax-saving-strategies

Tax Benefits of Health Savings Accounts

Tax-Tip Tuesday, HSAs, tax-saving strategies

While similar to FSAs (Flexible Savings Plans) in that both allow pre-tax contributions, Health Savings Accounts or HSAs offer taxpayers several additional tax benefits such as contributions that roll over from year to year (i.e., no "use it or lose it"), tax-free interest on earnings, and when used for qualified medical expenses, tax-free distributions.

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Making Tax Smart Loans to Family and Friends

Tax-Tip Tuesday, Loan, tax-saving strategies

Lending money to a cash-strapped friend or family member is a noble and generous offer that just might make a difference. But before you hand over the cash, you need to plan ahead to avoid tax complications for yourself down the road.

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Saving for Education: 529 Plans

529 Plan, tax-saving strategies, Big 3

Many parents are looking for ways to save for their child's education and a 529 Plan is an excellent way to do so. Even better, is that thanks to the passage of tax reform legislation in 2017, 529 plans are now available to parents wishing to save for their child's K-12 education as well as college or vocational school.

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Tax-Saving Strategies

tax-saving strategies

If you're looking to save money on your taxes this year, consider using one or more of these tax-saving strategies to reduce your income, lower your tax bracket, and minimize your tax bill.

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