With January coming to a close, many Americans are receiving tax documents (such as W-2 forms) due to them at the end of the month. And as they prepare to file, at Fairway, we know most taxpayers are considering the credits and deductions available to them – from the earned income tax credit to the clean energy credit, health savings account (HSA) deduction, and many more. Contributions to an HSA “are tax-deductible and withdrawals are tax-free, as long as used for qualified medical expenses,” our wealth advisor Dina Powers told personal finance publication Bankrate. “Many of our clients who qualify to make HSA contributions, including retirees, are investing these funds to reserve for health-care expenses later in life.” Click here for the full article.
