Archive for March, 2007
Question about Health Savings Account Taxes?
itdaytrader asked:
Here’s the deal. I took out money from my HSA when I left my employer. The only real quidance I can find out what Qualifies as a medical expense is “that your purchase provides relief from physical or mental problems/symptoms.”
Here’s the deal. I took out money from my HSA when I left my employer. The only real quidance I can find out what Qualifies as a medical expense is “that your purchase provides relief from physical or mental problems/symptoms.”
I purchased a new couch and memory foam bed in 2006. They both releave back pain caused by my old fruniture and help calm the stress of everyday life when I take a nap.
What do you all think, qualify or no?
Layne Leming
How to minimize federal tax owed?
Peter W asked:
I am trying to figure out how to minimize the amount of federal tax I have to pay and am wondering if I am missing any ways to reduce my adjusted gross income. I live in California and make about $50,000 per year. I am not a student. I have a 401k which I contribute the maximum amount to. I also contribute to a Health Savings Account and an IRA. Apart from these three ways, are there any other methods to reduce AGI?
Matilde Tara
I am trying to figure out how to minimize the amount of federal tax I have to pay and am wondering if I am missing any ways to reduce my adjusted gross income. I live in California and make about $50,000 per year. I am not a student. I have a 401k which I contribute the maximum amount to. I also contribute to a Health Savings Account and an IRA. Apart from these three ways, are there any other methods to reduce AGI?
Matilde Tara