Tax Savings Calculator Instructions | Health Savings Account (HSA) Contribution Calculator |
Use the HSA Income Tax Saving Calculator to determine the amount you could save in taxes. |
HSA Estimated Income Tax Savings
Calculator
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Tax Rate | Married Filling Jointly | Single | Head of Household | Married Filling Separately |
---|---|---|---|---|
10% | $0-$15,650 | $0-$7,825 | $0-$11,200 | $0-$7,825 |
15% | $15,651-$63,700 | $7,826-$31,850 | $11,201-$42,650 | $7,826-$31,850 |
25% | $63,701-$128,500 | $31,851-$77,100 | $42,651-$110,100 | $31,851-$64,250 |
28% | $128,501-$195,850 | $77,101-$160,850 | $110,101-$178,350 | $64,251-$97,925 |
33% | $195,851-$349,700 | $160,851-$349,700 | $178,351-$349,700 | $97,926-$174,850 |
35% | Over $349,700 | Over $349,700 | Over $349,700 | Over $174,850 |
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This Health Savings Account (HSA) calculator determines the amount you are allowed to contribute to your HSA account for the current tax year. |
The amount of money that can be deposited into HSA depends on several factors: |
Account holder's age. |
Whether the person has single or family coverage. |
Whether the person has medicare coverage. |
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In general, if you have a qualifying High Deductible Health Plan (HDHP) and you are not eligible for medicare, you can contribute: |
* Maximum Family contribution for 2007 is $5,650. |
*Maximum Family contribution increases $150 per year after 2007. |
**Your contribution can also be increased if you are age 55 to 65 with a maximum $1,600 "Catch-Up" contribution for yourself and your spouse. |
**Maximum “Catch-Up?contribution ignore increases $200 per year after 2007. |
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The information presented here is for informational purposes only and should not be considered as tax or legal advise or be used as such. The answers to specific questions should be directed to your attorney or accountant. |
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Note: Tax Savings calculators on this site are provided as a convenience only. While every effort has been made for accuracy, results are not guaranteed. Not all tools will work with all browsers. JavaScript capability required. |
Contact K&K Insurance Services for a personalized HSA analysis.
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