Thetaxadviser.com

PPACA Guidance Clarifies Rules for HRAs, Health FSAs, …

WebEditor: Michael Dell, CPA. Employee Benefits & Pensions. In Notice 2013-54, the IRS provided long-anticipated guidance on when employers may use arrangements such as …

Actived: 6 days ago

URL: https://www.thetaxadviser.com/issues/2014/jan/clinic-story-04.html

Employee wellness plans: Some benefits may be taxable

WebThe unique qualities of fixed-indemnity wellness plans have led to some confusion concerning the taxability of benefit payments. The IRS issued Chief Counsel …

Category:  Health Go Health

Employee wellness plans: Some benefits may be taxable

WebThe unique qualities of fixed-indemnity wellness plans have led to some confusion concerning the taxability of benefit payments. The IRS issued Chief Counsel …

Category:  Health Go Health

Health savings accounts can save taxpayers money

WebOctober 10, 2019. Health savings accounts (HSAs) have become more popular in recent years as a tax-saving device. High-deductible health insurance plans with HSAs are …

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Beware of tax promoters purporting to save employment …

WebThe most recently issued advice, CCA 201719025, highlights the fact that promoters are selling self-funded health plans, referred to as wellness plans or fixed …

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HRAs can be integrated with individual health plans

WebIn T.D. 9867, the departments of Treasury, Labor, and Health and Human Services (the departments) jointly issued final regulations with respect to health …

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Contributions to HSAs

WebThe maximum annual contribution to an HSA is the sum of the limits determined separately for each month, based on status, eligibility, and health plan …

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Application of Sec. 199A deduction to health care

WebApplication of Sec. 199A deduction to health care. On Dec. 22, 2017, President Donald Trump signed the law known as the Tax Cuts and Jobs Act (TCJA), …

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Tax Court Rules on Medical Necessities

WebThe Tax Court contended that both the deduction for medical care and the exclusion for cosmetic surgery depend on the meaning of “treatment” and “disease.” 19 A medical …

Category:  Medical Go Health

Tax Planning for Aging Clients: Medical Expense Deduction for …

WebThe Home Improvement Medical Expense Deduction. Sec. 213 (a) allows taxpayers to deduct expenses paid during the tax year for medical care of the taxpayer, …

Category:  Medical Go Health

Payments Under State’s In-Home Supportive Care Programs Can …

WebNovember 1, 2016. Editor: Mark G. Cook, CPA, MBA, CGMA. In Letter Ruling 201623003, the IRS ruled that payments made under a state's in - home supportive care programs …

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IRS announces 2021 HSA limits

WebIn Rev. Proc. 2020-32, the IRS announced the annual inflation-adjusted limits on deductions for contributions to a health savings account (HSA) allowed for taxpayers …

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Fundamentals of voluntary employees’ beneficiary associations

WebThe voluntary employees' beneficiary association (VEBA), a vehicle tax - exempt under Sec. 501 (c) (9), has seen its heyday come and go. Created to provide for …

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How an HSA can be viewed as a flexible tax-favored investment

WebTOPICS. EXECUTIVE. SUMMARY. Besides providing a tax-favorable option for taxpayers to pay out-of-pocket medical expenses, HSAs can be used as a flexible tax …

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Pitfalls and treasures of the QBI deduction

WebEditor: Valrie Chambers, CPA, Ph.D. The Sec. 199A qualified business income (QBI) deduction is a game-changer in many ways, both obvious and not-so-obvious.In …

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Classification as a Statutory Employee

WebStatutory employee status may be beneficial for both an employee and his or her employer; however, an employee must meet specific requirements to qualify as a statutory …

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Service businesses that qualify for the 20% QBI deduction

WebOne major provision of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, is a new tax deduction for passthrough entities (S corporations, …

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Alimony deduction and income exclusion allowed for insurance …

WebDecember 1, 2021. A taxpayer, who was required under a 2014 settlement agreement incident to divorce proceedings to pay health insurance premiums for his wife during the …

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Small Businesses Bear a Significant Portion of Federal Tax …

WebUsing a prudent tax adviser is economical for some, but it is a luxury for others, particularly for U.S. small businesses. This item focuses on small businesses that are independently …

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Planning Opportunities with the Sec. 121 Partial Exclusion

WebTo qualify, the couple must have met the provisions of Sec. 121 (b) (2) (A) for a joint return immediately before the death of the spouse, and the surviving spouse must be unmarried …

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