When it comes to making contributions to your Health Savings Account (HSA) for the tax year 2018, there is a specific deadline that you need to be aware of. The latest you can put a deposit in your HSA for the year 2018 is the tax filing deadline, which typically falls on April 15 of the following year.
Contributions made after this deadline will count towards the following tax year. It's important to remember that the deadline is based on the tax year for which you are contributing, not the calendar year.
HSAs provide individuals with a tax-advantaged way to save and pay for qualified medical expenses. They offer triple tax benefits, including tax-deductible contributions, tax-free growth of funds, and tax-free withdrawals for qualified medical expenses.
For individuals looking to maximize their contributions to their Health Savings Account (HSA) for the year 2018, it's essential to note that you have until the tax filing deadline, usually set for April 15 of the following year, to make your deposits.
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