Reliable Income Tax Service Inc.

Qualifying Dependents – Did You Know?

In addition to your children and parents, a number of other individuals may qualify as your dependents for tax purposes. Important factors can include the person's income, how much support you provide, and how much of the year the person lives with you. In some limited cases, even a non-relative who lives with you year round as a member of your household may qualify as a dependent.

Health Savings Accounts - Did You Know?

Changing jobs? If you have a health savings account (HSA), you can take it with you. Unlike flexible spending accounts (FSAs), which are usually tied to your employer, your HSA belongs to you. You can continue using your HSA funds after leaving the job where you opened the account. However, you may make new HSA contributions only if you remain eligible to contribute. To remain eligible, you generally must be covered by an HSA-eligible high-deductible health plan (HDHP) and have no disqualifying coverage.