Tuesday, April 18, 2017

HEALTH SAVINGS ACCOUNTS (HSAS)

The definition of a high-deductible health plan, which is a prerequisite to funding an HSA, means a policy with a minimum deductible for 2016 of $1,300 for self-only coverage and a maximum out-of-pocket cap on co-payments and other amounts of $6,550. These limits are doubled for family coverage ($2,600/$13,100). The contribution for 2016 is capped at $3,350 for self-only coverage and $6,750 for family coverage. An additional $1,000 deduction is available for those 55 and older.



Selig & Associates provides the most aggressive tax representation allowed by law. Specializing in Trust Fund Recovery Penalty (TFRP) representation, and all payroll, income and sales tax controversies. We settle contested tax audits; negotiate excellent payment plans, compromise tax debts, and resolve all civil and criminal tax issues, including innocent spouse relief and separation of liability. For a FREE CONSULTATION call us today (212) 974-3435

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