A prospective client comes to you for some more expert planning advice. He has a high...

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Accounting

A prospective client comes to you for some more expert planningadvice. He has a high deductible health insurance plan with an HSA.What are the tax advantages to saving money in an HSA account andwhat benefits may be available if he chooses not to use the fundsuntil the future? The client is also thinking about starting hisown accounting business on the side and wants to know whatself?employment tax is. He is also want to know what advantages areassociated with setting up an educational assistance program. Theprospective client is also trying to figure out if he cancontribute to an IRA, a SEP?IRA, and his employer?sponsored 401kplan. What factors should he be considering or aware of from a taxplanning perspective?

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What are the tax advantages to saving money in an HSA account and what benefits may be available if he chooses not to use the funds until the future Many Expenses Qualify Eligible expenses include a wide range of medical dental and mental health services They are explained in detail in IRS Publication 502 Medical and Dental Expenses Others Can See Answer

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