2150 North Cleveland-Massillon Road; Akron, OH 44333

Phone: 330-659-5985

Fax: 330-659-5986


Website: www.wlcpa.com


January 2018

Short Bits

The Employee Benefit Research Institute (EBRI) found that over 90% of HSAs that saw individual or employer contributions in 2016 ended the year with a balance to roll over into 2017 for health expenses. The rollover component is one of the most attractive features of this triple-tax-free healthcare savings vehicle.


The Kaiser Family Foundation/Health Research & Education Trust 2017 Employer Health Benefits Survey of employer-sponsored health plans found an average cost for family health insurance coverage of $18,764, with employees picking up $5,714 of the amount.


The annual gift tax exclusion is projected to increase to $15,000, a $1,000 hike over 2017. This means you and your spouse can give gifts up to that amount to as many people as you like, free of federal gift tax. The lifetime estate and gift tax exclusion is also projected to rise from $5.49 million to $5.6 million.


Our national net worth, defined as assets minus liabilities, rose by $1.7 trillion in the second quarter of 2017 to $96.2 trillion, according to the Federal Reserve. That’s the good news. Not so good? Consumer credit grew at an annual rate of 4.6% for the same period. Better news? State and local government debt decreased by 1%.


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