Archive

Tag Archives: pre-tax savings plans

IRS Gives Taxpayers Higher HSA Limits for 2023 UPDATED

View Rachel's Profile
Posted on April 04, 2023 by Rachel Kenney Rego

Individuals participating in high-deductible health plans (HDHPs) can contribute more of their pre-tax earnings to health savings accounts (HSAs) in 2023 to yield greater tax and savings benefits. For 2023, taxpayers may contribute up to $3,850 to an HSA and qualify for a full tax deduction.  For family plans, the annual limit on deductible contributions […]

IRS Announces Inflation-Adjusted Individual Tax Rates for 2023 by Jeffrey M. Mutnik, CPA/PFS

Posted on December 12, 2022 by

The IRS has released the annual cost-of-living adjustments to various provisions of the tax code for 2023, noting that some of the changes are significant due to persistently high inflation. For some taxpayers, these adjustments will result in higher take-home pay, larger credits and deductions, and the ability to protect more assets from the federal […]