How much can I contribute to an HSA in 2018 if I'm a sole proprietor?

If you're a sole proprietor, you have the opportunity to contribute to a Health Savings Account (HSA) to help cover eligible medical expenses and save for the future. For the year 2018, as a sole proprietor, you can contribute up to $3,450 for an individual HSA or $6,900 for a family HSA.

As a sole proprietor, contributing to an HSA can provide you with tax advantages, allowing you to deduct your contributions from your taxable income. This can be especially beneficial if you are looking to save on taxes and secure funds for health-related costs not covered by insurance.

It's essential to note that HSA contributions are tax-deductible, grow tax-free, and can be withdrawn for qualified medical expenses without incurring taxes or penalties, making it a valuable financial tool for sole proprietors.

If you're a sole proprietor, now is a great time to take advantage of a Health Savings Account (HSA) for 2018. By contributing up to $3,450 for an individual HSA or $6,900 for a family HSA, you can effectively manage your eligible medical expenses and make plans for the future.