In this case the taxpayer, a doctorsâ office, displayed various pieces of art in its offices, claimed depreciation on said artwork, which the IRS disallowed. At trial the IRS argued that the works of art did not have a useful life, based on Revenue Ruling 68-232.
A reduction in HAPU incidence by just 1 percentage point (3.5% to 2.5%) results in potential savings of $1,305,000 per year. Calculate your own potential savings below.
In order to contribute to a health savings account, an individual or family must be covered by a qualified HDHP. Although preventive care is covered before the deductible, most expenses must be paid by the insured until the deductible is met. In 2013, HDHPs must have deductibles of at least $1,250 for an individual and $2,500 for a family. This will remain unchanged in 2014.