It’s not too late to slash your 2016 income taxes. Contribute to your Health Savings Account by April 18. HSA Contributions reduce your taxable income dollar-for-dollar. To be eligible, the account owner must have had a high-deductible health plan with a maximum allowable out-of-pocket amount of $6,550 for an individual and $13,100 for a family.… Continue reading You Can Still Cut Your 2016 Tax Bill
Tag: tax deductions
Don’t Miss Out on Any 2016 Tax Deductions
Many people miss out on taking all the deductions they’re entitled to. Poor record keeping is often the culprit, as well as not knowing what’s deductible. Sometimes it’s just procrastination. I advise: Deduct every dime you give to charity. Most people who itemize deductions underreport their charitable contributions because they don’t keep records throughout the… Continue reading Don’t Miss Out on Any 2016 Tax Deductions