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Tax Glossary
What Is “ HSA distribution ”?
An HSA distribution is any withdrawal of funds from your Health Savings Account. When you take money out of this...
Tax Glossary
What Is “ High deductible health plan ”?
A High-Deductible Health Plan (HDHP) is a type of health insurance policy characterized by lower monthly premium payments and higher...
Tax Glossary
What Is “ Health Savings Account ”?
A Health Savings Account (HSA) is a specialized, tax-advantaged savings account designed to help individuals cover qualified medical expenses. To...
Tax Glossary
What Is “ Health FSA ”?
A Health FSA (Flexible Spending Account) is an employer-sponsored benefit arrangement that allows employees to pay for qualified out-of-pocket medical,...
Tax Glossary
What Is “ Green card test ”?
The Green Card Test is a legal criterion used by the Internal Revenue Service (IRS) to determine whether a non-U.S....
Tax Glossary
What Is “ FSA ”?
An FSA, or Flexible Spending Account, is an employer-sponsored benefit that allows employees to pay for eligible medical or dependent...
Tax Glossary
What Is Form 8995-A?
Form 8995-A, officially titled “Qualified Business Income Deduction,” is an advanced IRS tax form used by small business owners, freelancers,...
Tax Glossary
What Is Form 8995?
Form 8995, officially titled the “Qualified Business Income Deduction Simplified Computation,” is an IRS tax form used by eligible self-employed...
Tax Glossary
What Is “ Form 5498-SA ”?
Form 5498-SA is an informational IRS tax form issued by your health savings account bank or financial custodian to report...
Tax Glossary
What Is “Form 2555”?
Form 2555 is an IRS tax form used by U.S. citizens or resident aliens who live and work abroad to...