Tag: tax strategy

Planned Upcoming Tax Changes for 2021

Written on October 15, 2021.

The 2021 Tax Year Is Bringing Some Surprises With It, but Here’s What We Do Know

Recently, there has been a lot of discussion about the tax plan put forth by the Democrats and the corresponding changes it may bring. While there is still a lot that is unknown, some of the upcoming tax changes are certain and can begin being planned for. Below is a summary of some of the items that will change in the 2021 tax season.

Financial planning provides a plethora of benefits; however, it also comes with many challenges considering it’s impossible to completely prepare for an unpredictable future. Despite the impossibility of being able to fully prepare for what the future holds, a smart financial plan can still provide you with the flexibility and strong financial foundation you need to respond to whatever it may bring.

5 Ways HSAs Can Bolster Your Retirement Plan

Written on March 24, 2021.

Health Savings Accounts Offer Several Benefits to Your Retirement Strategy

If you’re maxing out your 401(k) and IRA contributions, you’re likely on the road to a comfortable retirement. If you’re saving in taxable accounts, too, you’re even further ahead of the game. However, you may be missing out on an incredibly tax-efficient savings vehicle. If you truly want to bolster your retirement plan, it’s time to look into a health savings account (HSA).

Health savings accounts are the only option for triple-tax savings, meaning you can contribute pre-tax dollars, pay no taxes on earnings, and withdraw money tax-free now or in retirement as long as it’s used for qualified medical expenses. Simply put, HSAs go to work for you in three ways and provide the ultimate tax-efficiency. Read on for five ways you can fortify your retirement plan by using an HSA.

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