Eldercare Can Be a Medical Deduction
Did you know eldercare expenses might qualify as a medical tax deduction? Learn how you might be able to reduce your tax burden.
Medical
What is the Difference Between an HSA and a Health FSA?
The tax code provides two tax advantageous plans for taxpayers to pay medical expenses. One is a Flexible Spending Account (FSA) and the other is a Health Savings Account (HSA). Learn more.
Are You Caring for a Disabled Family Member?
Medicaid makes waiver payments to those who care for disabled individuals and thus saves the government from caring for these individuals in more expensive institutions.
IRS Finds a Cure for the Family Glitch
Learn more about the premium tax credit or other ACA tax-related issues.
ABLE Accounts and Individuals With Disabilities
A federal law permits individuals who became disabled before reaching the age of 26 to have up to $100,000 in an ABLE account, without jeopardizing their eligibility for Medicaid or Supplemental Social Security Income eligibility. Read more.
Health Savings Accounts Fill Multiple Tax Needs
A frequently overlooked tax benefit is the Health Savings Account, which can serve dual purposes as a tax-deductible savings account for paying medical expenses and as a retirement account that functions similar to a traditional IRA.
Bunching Your Deductions Can Provide Big Tax Benefits
If your tax deductions normally fall short of needing to itemize and the standard deduction you are allowed is greater, or even if you are able to itemize but only marginally, you may benefit from adopting the “bunching” strategy.
Video Tips: Tax Breaks for People with Disabilities
For people with disabilities and their families, taking advantage of these tax breaks can bring tremendous help. Watch this video to learn more.
Tax Benefits for People with Disabilities
Individuals with disabilities as well as parents of disabled children are eligible for a number of income tax benefits. Learn more.
Cash Flow Best Practices for Medical Organizations: Breaking Things Down
Getting a hold of your medical practice’s cash flow situation may be difficult, but it certainly isn’t impossible – provided that you’re able to keep a few key tips and tricks in mind.