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Tax
Reductions
Considering a
single taxpayer's* HSA contributions** based on allowances as of April 10, 2007,
we've illustrated the reduction in Federal Income Tax in the table below.
|
contributed |
Income |
Income |
Income |
Income |
|
|
$40,000 |
$60,000 |
$80,000 |
$100,000 |
|
|
tax reduction |
tax reduction |
tax reduction |
tax reduction |
|
$1,500 |
$225 |
$375 |
$375 |
$420 |
|
$2,500 |
$375 |
$625 |
$625 |
$670 |
*The tax savings
for married couples taxpayers are greater than those shown in the table above.
**Remember, there
is a difference between the amount you can contribute into your HSA fund and the
deductible amount in your insurance policy. They don't match up dollar for
dollar.
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