Uber driver using his phone

States struggle in taxing the sharing economy

Although millions of Americans are using “sharing economy” services such as Uber and Airbnb, states are struggling to apply existing tax laws to these technologies. Only eight states require companies such as Uber to collect sales tax, while a number of states consider this to be a nontaxable transportation service, according to Bloomberg BNA’s 2017…

IRS adjusts health savings account limits for 2018

The Internal Revenue Service released the 2018 inflation-adjusted limitations for health savings accounts Thursday. In Revenue Procedure 2017-37, the IRS said the annual contribution limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,450. For calendar year 2018, the annual limitation on deductions for an individual with family…