Can I Still Contribute to My HSA for 2018 Tax Deduction?

Yes, you can still contribute to your Health Savings Account (HSA) for the 2018 tax year, as long as you do so before the tax filing deadline for that year. The deadline for making HSA contributions for 2018 is typically the same as the tax filing deadline, which is usually April 15th of the following year.

Contributing to your HSA can provide you with valuable tax benefits, such as tax-deductible contributions, tax-free growth on earnings, and tax-free withdrawals for qualified medical expenses. Here are some key points to keep in mind:

• You can contribute up to a certain limit each year, which is set by the IRS. For 2018, the contribution limits are $3,450 for individuals and $6,900 for families.
• If you are 55 or older, you can make an additional catch-up contribution of $1,000 per year.
• Contributions to your HSA are tax-deductible, meaning they can help lower your taxable income for the year.
• Any contributions you make to your HSA before the tax filing deadline for the year can be counted towards that tax year, even if you contribute in the following year.

It's important to consult with a tax advisor or financial planner to ensure you are maximizing the benefits of your HSA contributions and taking full advantage of the tax incentives available to you.

Absolutely! You can still contribute to your Health Savings Account (HSA) for the 2018 tax year, and taking action before the tax filing deadline opens up many doorways to tax savings. Remember, this deadline is usually set for April 15th of the following year.