it doesn't grow - as they charge admin fees so if you don't use it, your account shrinks by 3 to 5 $ each month. the % you get on interest does not cover the admin fees,
It depends on where your HSA is held and what your investment options are. Many of the larger banks / brokers do not charge any fees (Fidelity, Bank of America, Schwab) and because they are self-directed, you can invest as you deem fit (stocks, bonds, funds, etc.). Check with your employer to see if you're allowed to make a direct rollover to a self-directed HSA.
That's correct - you as the recipient of a gift will not be subject to any tax. Even if the amount is in the millions. As long as it's a bona fide gift and not a disguised sale or income. It's the giftor (person who is giving you the gift) that will need to report this and potentially have a tax liability.
Hi, I only sell on TikTok Shop and I see the platform has collected sale tax from my revenue automatically. Should I still report the sale tax on State website? What should I report? Please make a video about it. Thanks!
It is my understanding that they will be submitting the tax for you. Howeve if you sell on Amazon and use FBA you will essentially create a Nexus in any state that is carrying/warhousing your goods.
So from my understanding if you sell like say only on a online marketplace like ebay ect that doesn't get reported on you sales tax form because the platform is collecting sales tax,not you?
I have one question about the gifts received from online shopping site . They give free gifts when we refer a certain amount of people to the website. Does receipient of these free gifts needs to pay tax? Thank you.
@Aniyah - Wonderful comment - in order to build a championship team, you need to bring the right people on board. Attaining great talent requires an investment! Thank you for your comment!
Reaching out to a tax pro last minute is bad business practice. Speaking to them throughout the year and well in advance of the filing deadline will be the right way to go! Plan for success!