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Please Click HerePosted on June 1, 2018 by Mary Ellen Schill
If it seems like the IRS just announced the 2018 limits, you are not mistaken. Just over a month ago the IRS declared a do over for the 2018 limits, see The IRS Says Never Mind – You Can Have Your Higher HSA Limit! With the arrival of 90 degree temperatures in Wisconsin, it is […]
Posted on April 30, 2018 by Mary Ellen Schill
I previously blogged about how unusual it was for the IRS to implement a retroactive change to a previously announced limit. As you may remember, the $6,900 limit on HSA contributions for a taxpayer eligible for a family high deductible health plan (HDHP) previously announced May 4, 2017 was reduced on March 5, 2018 to $6,850, […]
Posted on March 7, 2018 by Mary Ellen Schill
It is unusual for the IRS to implement a retroactive change to a previously announced limit (whether it be qualified plan limits or HSA limits). Especially when the change is a reduction in the amount that taxpayers can save/contribute. But who would disagree that 2018 has been a bit unusual. On March 5, 2018 the […]
Posted on December 15, 2017 by Mary Ellen Schill
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2018, and the increased rates reflect the increase in gasoline prices. Effective January 1, 2018, the optional standard mileage rates will increase to 54.5 cents per mile for […]