2024 2023 Change Annual HSA Contribution Limit (employer and employee) Self-only: $4,150 Family: $8,300 Self-only: $3,850 Family: $7,750 Self-only: +$300 Family: +$550 HSA catch-up contributions (employer and employee) $1000 $1000 No change Minimum Annual HDHP Deductible Self-only:...
it is $358.33 and for families $712.50 (both numbers represent the 2025 tax year; use the current tax year’s contribution limit when calculating for your situation). Remember, each month that you had at least one day active in an HDHP counts as a full month for your contribution...
Medical expenses can take a serious chunk of your household budget and income, especially when they come from unexpected emergencies. Fortunately, theInternal Revenue Servicegives you some relief by making some of these medical expenses deductible on your tax return. But you have to understand which...
The TCJA created a higherstandard deduction, removed many deductions in order to make deductions generally easier for common taxpayers to claim, and simplified many aspects of the U.S. Tax Code. This allowed the lower and middle class to take advantage or moretax breakswithout needing to have ...