The Tax Cuts and Jobs Act, signed into law in late December, 2017, contained some great news for folks that incur significant medical expenses AND itemize deductions on their tax return. Historically, the threshold used to determine the amount of eligible/deductible expenses has been 7.5% of adjusted gross income (AGI), until an increase to 10%LEARN MORE
On March 5, 2018, the IRS issued a bulletin which contained, among other things, revised cost of living adjustments (COLAs) for 2018. The previously passed tax reform law (i.e., Tax Cuts and Jobs Act) created the need for the revised COLAs, which have a direct impact in the employee benefits world affecting Health Savings AccountsLEARN MORE