I Quit My Job… and Triggered a Hidden HSA Penalty скачать в хорошем качестве

I Quit My Job… and Triggered a Hidden HSA Penalty

I accidentally over contributed to my HSA after quitting my job — and didn’t realize it until I was filing my taxes the following year. What I didn’t know is that HSA contribution limits are prorated based on the number of months you’re enrolled in a high deductible health plan (HDHP). Because I left my job in March, my contribution limit was much lower than the annual limit, which meant I had unknowingly over contributed to my HSA. If excess contributions aren’t corrected, the IRS can charge a 6% penalty every year until the mistake is fixed. In this video, I walk through my process. Hopefully it saves you the same headache I went through.