IRS Health Care Savings Tactics For Small Businesses.

• Position: IRS news

The IRS has announced two health care savings tactics for small employers and certain taxpayers who contribute to health savings accounts.

Taxpayers with High Deductible Health Plans Who Contribute to HSAs: Taxpayers with family coverage under these plans will be allowed to make a slightly larger contribution this year than the Tax Cuts and Jobs Act mandates. The law reduced the allowable HAS contribution by $50, to $6,850, because of a change in inflation adjustment calculations. But the IRS is allowing a $6,900 maximum contribution under Revenue Procedure 2018-27 (calcpa.org/RevProc201827).

Employers Who Want to Claim the Small Business Health Care Tax Credit: Small employers typically must give employees a qualified health plan...