Health insurance premiums and other medical costs are on the rise. If medical insurance does not cover all of your out-of-pocket costs, tax rules can help you minimize your financial exposure. However...

If you have a health savings account (HSA), it is up to you to retain proof that withdrawals from the account were for qualified medical expenses. Keep the following records along with the copy of you...

The definition of a qualified medical expense applies for several purposes. It controls the amount that can be deducted as an itemized medical deduction. It also determines whether distributions from ...

If you receive assistance from your employer to pay for dependent care costs, you may be able to exclude this fringe benefit. To be excludable, dependent care benefits must be provided by your employe...

If you work for an educational institution, you are not taxed on tuition reductions for you, your spouse, and your dependents (as well as widows or widowers of deceased or former employees) if:Th...

If your employer pays or reimburses you for the cost of higher education, you are not taxed on payments up to $5,250 annually. If the courses are job related, there is no dollar limit to the exclusion...

If you use a company-owned car only on company business, you are not taxed on this use of the company car because it is for business (it is tax-free income to you). Similarly, if you use a certain typ...

If your employer pays for certain fringe benefits called perquisites (perks), you may be able to exclude from your income some or all of these items. In many cases, however, tax-free treatment does no...

Serving your country in the military won't make you rich. But it may entitle you to a variety of benefits and other assistance. The tax law looks favorably on those in the service by allowing tax-free...

If you receive certain prizes or awards other than cash, you can exclude the amount you receive from income. These include awards of tangible personal property, such as the proverbial gold watch, give...

If you run a business from your home and use a portion of the space regularly and exclusively for this activity, you can write off expenses allocable to the space. Such expenses include not only real ...

If you or someone in your household has a condition that requires certain capital improvements, you may gain an immediate tax break. Normally, home improvements, other than certain energy upgrades tha...

Your company may offer a menu of benefits for 2011 and now is the time you make your benefits selections. Usually there is a window of time in which you can choose benefits for next year. Here are som...

If you can participate in your employer's flexible spending arrangement, you probably have to decide on your salary reduction contribution soon. Here are three actions:If you haven't used up your...

Your job may entitle you to more than just a paycheck. Your employer may help pay the cost of education for you, and perhaps your spouse and children as well. This can be a highly valuable fringe bene...

Your company may offer a menu of benefits for 2011 and now is the time you make your benefits selections. Usually there is a window of time in which you can choose benefits for next year. Here are som...

With summer approaching, taxes may be the farthest thing from your mind. However, there could be some savings in what you do this summer. Here are some points to help you make summertime plans. Short...

If you work for an educational institution or a nonprofit organization, you may be able to save for retirement through a 403(b) plan. This tax-deferred retirement savings plan is similar to a 401(k) p...

Employees (essentially public-sector employees) who work for state or local governments or non-church-controlled tax-exempt organizations may be eligible to participate in a special retirement savings...

When it comes to personal finance, reducing your goals into numbers, such as how much to save each month, and writing down these goals are the first step to achieving your objectives. Here are some gu...