Comprehensive Guide to Health Savings Accounts (HSAs) Tax CE Course

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

HSA consulting services

2 mins
HSA tax advantages

17 mins
Withdrawals from HSA

44 mins
HSAs cover retirement health care costs

76 mins
HSAs and retirement planning opportunity

94 mins

Course Description

The high cost of health care and its inaccessibility to many people have created an environment where, for some, health care is unreachable.

Given the rising costs of health care and the fraying of employer-provided health insurance, many people have come to assume more personal responsibility for their health care expenses. One popular option is the health savings account (HSA), which is a self-directed, self-funded plan designed to help individuals meet current and future health care expenses on a tax-free basis.

Employers and their service providers and advisors must 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 benefit taxpayers in many ways, including providing tax-free funds to pay for health care expenses. HSAs can also provide an investment vehicle, additional retirement funds, and an emergency cash stash. They may be one of the most beneficial yet underutilized planning tools available to certain taxpayers.

Contributions to HSAs avoid both federal and most state income and payroll taxes (e.g., FICA, FUTA). Employers often offer these plans, and the fees and investment options vary with each financial institution.

Participants can withdraw money tax-free from their HSA for eligible medical expenses. The list of qualifying medical expenses is fairly liberal and includes over-the-counter drugs, acupuncture, and qualifying travel expenses. Taxpayers can use HSA funds to pay Medicare premiums after age 65.

Tax advisers working with employers and individuals participating in these plans need to understand the benefits and requirements for contributions and distributions and other unique opportunities these accounts provide so they can incorporate them into the financial advice they provide, especially when planning for retirement.

This CPE course will explore the advantages of HSAs, including plan and participant requirements, contributions and limits, investment options and using an HSA to supplement retirement plans.

Learning Objectives

To evaluate what is an HSA.
To investigate who can and who cannot use them.
To discuss the qualified health insurance plans.
To explain contribution limits.
To identify qualifying expenses.
To discuss the tax advantages.
To analyze the investment opportunities.
To evaluate how to supplement retirement plans.
To discuss the Super HSA.

Recommended For

This CPE webinar is recommended for Tax partners, managers, and staff, CPAs, enrolled agents, tax return preparers, tax attorneys, and other practitioners who want to understand contribution and distribution rules applicable to health savings accounts and serve as an advisory to their clients.

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Financial Planner
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
Certified Senior Advisor
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Financial Planner
Finanical Analyst
Maryland Tax Preparers
Oregon Tax Preparers
Senior Accountant
Staff of Accounting Firm
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

2 CPE Credit for Retirement Income Certified Professional (RICP)
2 CPE Credit for Financial Services Certified Professional (FSCP)
2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00768-21-S)
2 CPE Credit for Chartered Financial Consultant (ChFC)
2 PL Credit for Chartered Financial Analyst (CFA)
2 CPE Credit for Chartered Advisor in Senior Living (CASL)
2 CE Credit for Certified Senior Advisor (CSA)
2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0711)
2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
2 CE Credit of Investment Planning for Certified Financial Planner (US) (Approval No. 298696)
2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00768-21-S)
2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00768-21-S)
2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2 CE Credit for Certified Wealth Strategist (CWS)
2 General Credit for Accountant/Bookeeper
2 CPD Credit for Personal Financial Specialist (PFS)
2 CPE Credit for Chartered Special Needs Consultant (ChSNC)
2 CPE Credit for Wealth Management Certified Professional (WMCP)
2 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01043-22-S)
2 CPD Credit for Trust and Estate Practitioners (TEP)
2 PL Credit for Certificate In Investment Performance Measurement (CIPM)

Additional details

Course Level :

Basic
Credits :

2
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

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.

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.

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.

Presenter

About Presenter

Lawrence Pon, CPA/PFS, CFP, EA, USTCP, AEP

Owner, Pon & Associates

Lawrence Pon is a Certified Public Accountant, Personal Financial Specialist, Certified Financial Planner, Enrolled Agent, United States Tax Court Practitioner, and Accredited Estate Planner in Redwood Shores, CA

Mr. Pon has been in tax practice since 1986 and speaks regularly to tax professionals and financial advisors on the latest tax planning and preparation topics.

Mr. Pon enjoys helping his clients reach their financial goals through comprehensive tax planning and financial planning.

Mr. Pon received his BS in Business Administration (Accounting & Finance) from UC Berkeley and MS in Taxation from Golden Gate University in San Francisco.

About Company

Pon & Associates

www.larryponcpa.com/

We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.

We provide a variety of services including:

Income Tax Preparation for all types of businesses, individuals, trusts, and estates.
IRS and State Audit Representation
Financial Planning
Estate Planning and Preparation
Business startup services including Business Planning
Tax Planning and Consulting
Charitable Planning

Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.

Faq

FAQs content

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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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