MAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)

Course Details

Choose Your Time Zone:

Course Description

Regardless of what comes out of Congress with regard to the Healthcare Bill, we know that healthcare costs will continue to be significant for retirees. One of the most efficient and valuable ways to help pay for these expenses are through health savings accounts (HSAs). While more and more companies are moving to High Deductible Health Plans, the C-suite is always looking for additional ways to save money while keeping employees happy. It's crucial for employers and their service providers and advisors to understand what kind of coverage is required for HSA eligibility, and what types of programs and benefits can make employees ineligible for HSA contributions.

HSAs are one of the most favorable tax investment vehicles in existence today. Unlike IRA contributions, HSA contributions do not have an income limit which phases people out of making contributions. Thus, someone making $5M annually still has the ability to make an HSA contribution if they are covered under a HDHP and don’t run afoul of the other restrictions mentioned previously

You will also learn how HSAs offer investors triple tax savings: You will also learn what benefits shall be paid i.e examples of qualified medical expenses include most medical, dental, vision, and rehabilitative or chiropractic expenses also Tax-free distributions for medical expenses. Generally, if distributions are made for any other purpose besides a qualified medical expense the distribution is subject to a 20% penalty. However, once people reach the age of 65, they can make distributions from an HSA for any purpose without penalty. At this point, the HSA essentially turns into a traditional IRA and distributions for non-medical expenses are merely subject to income taxes

This training session is designed to get the Tax professionals, CPAs, CFOs, Financial Planners up to speed quickly with the complex contribution and distribution rules applicable to health savings accounts (HSAs) and serve as an advisory to their clients or companies on effective strategies for saving the bottom line while keeping the compliance in check and increased employee satisfaction and retention.

Learning objectives

  • To understand the eligibility requirements for making contributions to HSAs
  • To understand the tax ramifications of distributions from HSAs
  • To know the complex rules applicable to HSAs.
  • How participation in a flexible spending account (FSA) or health reimbursement arrangement (HSA) can impact HSA eligibility.
  • Whether and how Medicare or VA eligibility affect HSA eligibility.
  • Establishment of HSAs for participants in high deductible health plans (HDHPs).
  • What benefits can be paid from an HSA and when.
  • Maximum HSA contribution limits for 2018.

About Presenter

Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.

During his time in college, Pat earned a letter as a member of the Ohio State Basketball squad. He remains a staunch supporter of the sports programs at his alma mater.

Awards & accolades

  • Multi-time winner of the California Education Foundation’s 1) Award for Instructor Excellence and 2) Award for Outstanding Course materials
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

Phoenix Beach was developed to provide comprehensive and up-to-date educational content for business professionals of all types. As part of our mission we strive to make sure that the material we present is delivered by knowledgeable and skilled instructors so our session participants receive a great educational experience and value.

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete webinar and respond to all polling questions asked during the webinar. CPE is issued on 50 minute credit hour basis.
  • This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during/after the webinar.
  • If you are Canadian Chartered Professional Accountant (CPA) many of our courses qualifies for your verifiable CPD requirements you will get your certificate for the program. You can check a tab of “Webinar Qualifies for” for the same.However please do verify with respective regulatory body about the eligibility for the same.
  • Many of our courses are approved by “CFP Board” for CE credits of certified financial Planner(CFP). Please check a tab of “Webinar Qualifies for” to verify whether webinar qualifies for CE credits for CFP or not.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

Reviews

4.8
(4)
75%
25%
0%
0%
0%
  • MM
    Michael Moughan , MBA, CPA
    Dec 9th 2019
    Excellent webinar. Learned greatly through the presentation. Very informative ans it touched on issues I was unaware of. Did not know that HSA were so complicated. Thank You for the presentation.
JVW
Jesse V Walter , AFSP
Great job! Exactly what I needed. Didn't know much about HSAs and this really covered the topic. Extremely informative session. Thank you

NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

IRS Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary

CTEC Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

upcoming Live CPE Webinars

Partnership Preparation, Basis Calculations & Distributions – Form 1065 Schedule K & K-1 Analysis
Monday, August 10, 2020 | 09:00 AM EDT View Details/Register
Children of all ages: Comprehensive Planning Techniques
Monday, August 10, 2020 | 09:00 AM EDT View Details/Register
QBO: Banking Feed and Reconciling - Make Rules & Automate
Monday, August 10, 2020 | 09:00 AM EDT View Details/Register
Tax Practitioner Ethics
Monday, August 10, 2020 | 10:00 AM EDT View Details/Register
CPAs and Financial Planners Understanding Critical Concepts of Trusts and Estates
Monday, August 10, 2020 | 10:00 AM EDT View Details/Register
Children of All Ages - Comprehensive Planning Techniques (New)
Monday, August 10, 2020 | 11:00 AM EDT View Details/Register
Advanced Excel Skills for Accountants
Monday, August 10, 2020 | 11:30 AM EDT View Details/Register
10 Secrets the Credit Card Processing Industry Doesn't Want You to Know
Monday, August 10, 2020 | 12:00 PM EDT View Details/Register
Estate Planning for IRAs Payable to Trusts After the Secure Act
Monday, August 10, 2020 | 01:00 PM EDT View Details/Register
Multistate Payroll Withholding Tax Issues
Monday, August 10, 2020 | 01:30 PM EDT View Details/Register
1031 EXCHANGES FROM TAX SAVINGS TO WEALTH CREATION: ACCOUNTANTS, CFO, CONTROLLERS, CPAS, & TAX PROS
Monday, August 10, 2020 | 02:00 PM EDT View Details/Register
IRS Penalties, Abatements, and Reasonable Cause
Monday, August 10, 2020 | 03:00 PM EDT View Details/Register
Form W-4 and Other Payroll and Form 1099 Updates
Monday, August 10, 2020 | 03:00 PM EDT View Details/Register
IRS Audit Process & Defense Presentation
Monday, August 10, 2020 | 03:00 PM EDT View Details/Register
Passive Activity Loss Limitations: Working with the Complex PAL Rules & Real Estate Tax Issues.
Tuesday, August 11, 2020 | 09:00 AM EDT View Details/Register
  • Cost $30
  • CPE Credits 2
  • CE Credits 2
  • IRS Course ID GEHNZ-T-00079-19-O
  • CTEC Course ID 6273-CE-0055
  • Subject Area Taxes
  • Course Level Intermediate
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Tax Attorney Tax Practitioners Accountant CPA - Small Firm CPA - Mid Size Firm Accounting Firm Tax Pros Tax Firm Tax Accountant (Industry) Tax Director (Industry)
  • Handout Material Download

upcoming Live CPE Webinars

Partnership Preparation, Basis Calculations & Distributions – Form 1065 Schedule K & K-1 Analysis
Monday, August 10, 2020 | 09:00 AM EDT View Details/Register
Children of all ages: Comprehensive Planning Techniques
Monday, August 10, 2020 | 09:00 AM EDT View Details/Register
QBO: Banking Feed and Reconciling - Make Rules & Automate
Monday, August 10, 2020 | 09:00 AM EDT View Details/Register
Tax Practitioner Ethics
Monday, August 10, 2020 | 10:00 AM EDT View Details/Register
CPAs and Financial Planners Understanding Critical Concepts of Trusts and Estates
Monday, August 10, 2020 | 10:00 AM EDT View Details/Register
Children of All Ages - Comprehensive Planning Techniques (New)
Monday, August 10, 2020 | 11:00 AM EDT View Details/Register
Advanced Excel Skills for Accountants
Monday, August 10, 2020 | 11:30 AM EDT View Details/Register
10 Secrets the Credit Card Processing Industry Doesn't Want You to Know
Monday, August 10, 2020 | 12:00 PM EDT View Details/Register
Estate Planning for IRAs Payable to Trusts After the Secure Act
Monday, August 10, 2020 | 01:00 PM EDT View Details/Register
Multistate Payroll Withholding Tax Issues
Monday, August 10, 2020 | 01:30 PM EDT View Details/Register
1031 EXCHANGES FROM TAX SAVINGS TO WEALTH CREATION: ACCOUNTANTS, CFO, CONTROLLERS, CPAS, & TAX PROS
Monday, August 10, 2020 | 02:00 PM EDT View Details/Register
IRS Penalties, Abatements, and Reasonable Cause
Monday, August 10, 2020 | 03:00 PM EDT View Details/Register
Form W-4 and Other Payroll and Form 1099 Updates
Monday, August 10, 2020 | 03:00 PM EDT View Details/Register
IRS Audit Process & Defense Presentation
Monday, August 10, 2020 | 03:00 PM EDT View Details/Register
Passive Activity Loss Limitations: Working with the Complex PAL Rules & Real Estate Tax Issues.
Tuesday, August 11, 2020 | 09:00 AM EDT View Details/Register