Navigation Links
The Right Tax Moves for Employees to Make Before Year-End
Date:11/24/2009

NEW YORK, Nov. 24 /PRNewswire/ -- As year-end approaches, many employees are faced with an array of choices that can save taxes this year and next. To help you take advantage of these special tax-saving opportunities, William E. Massey, Senior Tax Analyst at Thomson Reuters, highlights the following key year-end planning considerations for employees:

Health flexible spending accounts (Health FSAs). Many employees take advantage of the annual opportunity to save taxes by placing funds in their employer's health FSA. These employees save taxes by using pre-tax dollars to pay for medical expenses that might not be deductible. The expenses are not deductible if the employee does not itemize. Even for itemizers, some medical expenses are not deductible because of the 7.5 percent adjusted gross income floor beneath medical expense deductions. And a health FSA can be used to get a tax-free reimbursement for over-the-counter medications and other items (such as contact lens solution), even though they cannot be deducted as medical expenses if purchased outside of the health FSA. Plans should have a listing of both qualifying items and any documentation that may be needed from a medical provider to get a reimbursement for a qualifying item. Employees who have set aside funds in an employer's health FSA should check the balance to ensure there is sufficient time to incur additional reimbursable expenditures to prevent loss of any unused amount under the use-or-lose feature of these plans. Reviewing year-to-date expenditures now will also help the employee calculate how much to elect to set aside for next year, taking into account any changed circumstances.

To avoid the use-or-lose rule, the employee must incur qualifying expenditures by the last day of the plan year (Dec. 31, 2009 for a calendar year plan) unless the plan allows an optional grace period. Any grace period cannot extend beyon
'/>"/>

Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related medicine news :

1. Promoting healthy skepticism in the news: Helping journalists get it right
2. Bono and Wyclef Jean Receive RFK Center for Justice & Human Rights Ripple of Hope Award
3. Elsevier celebrates the 20th anniversary of the UN Convention for the Rights of the Child
4. Lloyd Wright's Alternative Medicine Has One of its Hepatitis C Viral Inhibitors Given Boost as Scripps Study Peptides Effectiveness
5. AMA Optics Announces New Brightness Acuity Meter -- Documents Disabling Glare from Cataract
6. AMD Global Telemedicine, Inc. Acquires Distribution Rights for AFHCAN's tConsult Telehealth Systems
7. Right first time: Pioneering new methods of drug manufacture
8. Physicians for Human Rights Offers Training in Crime Scene Documentation
9. Bright Horizons Named One of Boston Globe 100s Top Places to Work
10. Good Sleepers More Likely to Eat Right
11. Mom was right: Nice guys dont always finish last
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/18/2014)... is being prepped to enter the battle against ... certain diseases in remote areas, thanks in part ... aboard the International Space Station on the behavior ... of capillary flow to diagnose infectious diseases such ... a researcher at Northwestern University in Evanston, Ill., ...
(Date:4/18/2014)... discovery that turns 160 years of neuroanatomy on its ... to be essential for the fast transmission of impulses ... ubiquitous as thought, according to a new work lead ... Institute (HSCI) and the University,s Department of Stem Cell ... of Harvard,s Department of Molecular and Cellular Biology. , ...
(Date:4/18/2014)... How did it make you feel? According to psychologists, ... such as how sad you were or how embarrassed ... you can,t stop thinking about it. , When ... of the memories, rather than how you felt, is ... negative effects of these memories, a new study suggests. ...
(Date:4/18/2014)... University psychologists have made a brain-related discovery that ... disorders. , This discovery opens up the possibility ... suppress a specific brain activity that the researchers ... The Journal of Neuroscience has just ... McDonald, an associate professor of psychology and his ...
(Date:4/18/2014)... This news release is available in French . ... breakthrough could revolutionize surgical practice and regenerative medicine. A ... Molle et Chimie (CNRS/ESPCI Paris Tech) and Didier Letourneur ... and Paris 13), has just demonstrated that the principle ... used in vivo to repair soft-tissue organs and tissues. ...
Breaking Medicine News(10 mins):Health News:Space-tested fluid flow concept advances infectious disease diagnoses 2Health News:Space-tested fluid flow concept advances infectious disease diagnoses 3Health News:Finding turns neuroanatomy on its head 2Health News:Finding turns neuroanatomy on its head 3Health News:New study suggests a better way to deal with bad memories 2Health News:New study suggests a better way to deal with bad memories 3Health News:Scientists discover brain's anti-distraction system 2Health News:Innovative strategy to facilitate organ repair 2Health News:Innovative strategy to facilitate organ repair 3
... State University of New Jersey have come up with ... determining the quality of mate in humans.// , ... mates among many animal species. Impressive dancers attract more ... association with computer scientist at the University of Washington ...
... Four women who lost their children in the tsunami last ... that enabled them to conceive again.// , ,Despite having ... Tamil Nadu in southern India will now be able to ... surgery called recanalization. , ,"We cannot get back our ...
... how old they get, never lose their beauty - they merely ... ,Jacqueline Saburido was a very normal girl who was in ... incident that occurred on the 19th of September 1999 changed her ... than 60% of her body was burnt. She lost her ears, ...
... Marie Rogers has won the right to fight for receiving the ... an aggressive type of breast cancer and wants to make sure ... the disease is in its early stage has meant that the ... have already taken legal recourse for the same. Even Patricia Hewitt, ...
... by Dr Michael Fenech studied the damage of excess alcohol on ... excess intake of // alcoholic beverages resulted in increased risk of ... the study, six men aged 21-26 stuck to a diet low ... of either complete red wine, red wine with the alcohol removed ...
... to have been responsible for much of the DNA among ... The tendency of human beings to live in settlements and ... selection process. ,One way to look for ... to study mutations called single-nucleotide polymorphisms (SNPs) - single-letter differences ...
Cached Medicine News:Health News:Recanalization enables Tsunami mourners to parent again 2Health News:The Looming Controversy Surrounding Facial Transplant 2Health News:DNA Underwent Changes Due To Culture 2
(Date:1/15/2014)... 2014  Research and Markets ( http://www.researchandmarkets.com/research/6k27gw/dental ) has announced ... Global Industry Analysis, Size, Share, Growth, Trends And Forecast, ... (Logo: http://photos.prnewswire.com/prnh/20130307/600769 ) ... patients in order to treat dental impairments, for tooth ...
(Date:1/15/2014)... 2014 Massachusetts General Hospital (MGH), the Broad ... announced today that they have launched a strategic ... targets and develop novel therapies for inflammatory bowel ... worldwide. The MGH-Broad-Amgen collaboration brings together scientists with ...
(Date:1/15/2014)... an unprecedented effort to curb the spread of "superbugs" such as ... an advanced and portable UV germicidal lamp manufactured by MRSA-UV is ... In order to prevent EMS paramedics and transport patients ... Palm Beach Fire Rescue is the first in the ...
Breaking Medicine Technology:Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 2Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 2Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 4Superbugs No Longer Ride In Rescue Vehicles 2
... minutes - - Landmark Study Reported in Journal ... A landmark publication that,appeared in the Journal of ... blinded clinical study. The paper is entitled "The Impact,of ... of,Melanoma and Equivocal Melanocytic Lesions." The study, lead ...
... more than 2,100 patients with hip fracture shows,significant 35% reduction in subsequent osteoporotic ... Journal of Medicine show, significant 28% reduction in overall mortality seen ... ... following hip fracture despite high risk of ...
Cached Medicine Technology:Large Blinded Clinical Study Achieves High Accuracy for the Diagnosis of Melanoma Using In Vivo Confocal Microscopy 2Large Blinded Clinical Study Achieves High Accuracy for the Diagnosis of Melanoma Using In Vivo Confocal Microscopy 3First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 2First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 3First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 4First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 5First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 6First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 7First Osteoporosis Study in Hip Fracture Patients Finds Once-Yearly Reclast(R) Prevents Additional Fractures and Improves Survival 8
... Advantages of using the Antigen-Antibody Pens-Using a ... and developed specialized fountain pens, called Antigen-Antibody ... or write/mark the blotting membranes in any ... formulated antigen-bonded colored dyes helps to see ...
... Antigen-Antibody Pens-Using a proprietary and patented technology, ... pens, called Antigen-Antibody pens-TM, that will allow ... membranes in any form or shape or ... helps to see antigen being written on ...
... of pure water, Complete, Compact Systems for ... compact S.D.S. Storage and Distribution Systems are ... of purified water produced by Elix or ... of stored water, provide effective protection against ...
... to 350 Liters of pure water, Complete, ... of Purified Water,Millipores compact S.D.S. Storage and ... to 350 liters of purified water produced ... maintain consistent purity of stored water, provide ...
Medicine Products: