NoCo CPAs
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4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686

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Health Savings Account Tidbits

Posted on June 20, 2012 by Leasa Magnuson in Business Tax, Individual Tax

I recently attended a class on Health Savings Accounts and was reminded why I like them so much. They are one of the few tools the IRS provides that are actually useful for everyone to use. The following are some reminders about why they are so useful. • You need a high deductible health plan […]

View Post Health Savings Account, HSA, Medical Expenses, ObamaCare

Over the Counter Drugs No Longer Deductible

Posted on May 9, 2012 by Leasa Magnuson in Individual Tax

For years taxpayers have been able to claim an itemized deduction for medical expenses to the extent they exceed 7.5% of adjusted gross income. Medical care is generally defined broadly as amounts paid for diagnosis, cure, mitigation, treatment or prevention of disease. However under the Affordable Care Act any amount paid during the tax year […]

View Post Itemized deductions, Medical Expenses, Over the counter drugs

Recent Posts

  • Repair Regulations Part I

    June 11, 2014
  • How to Know if You Need to Make Estimated Tax Payments

    March 20, 2013
  • Tax Implications of Bartering

    March 8, 2013

Testimonials

As I’m collecting tax stuff and forms we’ve rec’d in the mail, I’m reminded how much I enjoyed your presentation to Quota  the “other” night.  When I got home I told Donn, thanks goodness someone out there  really Loves and is Excited about numbers, math, taxes and YOU DO and it showed.  Thanks for your skills AND enthusiasm –

Linda

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686