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Health Saving Account for Small Business Owners

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HSA contributions for employees are usually deductible expenses for most businesses. However, HSA contributions made on behalf of Small Business Owners are subject to different rules. Sole proprietors, Partners and 2% shareholders of an S corporation are not eligible for salary reduction (Pre-tax) contributions to an HSA. The owners can establish HSAs and fund their […]

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Health Savings Account—Things We Should Know

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What is Health Savings Accounts (HSA)? A health-savings account is a tax-favored account that you can contribute to before taxes. Contributions to an HAS are deductible, earnings in the health savings account are tax-exempt.  withdrawals from a health savings account are tax free as long as the money is used for qualified medical expenses.  Unlike […]

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