Deductible
What you pay before insurance starts paying.
Where it is explained in full
How the wealthy pay less tax: the line between income and wealth, and the empty suite that does not exist. A friend earning two million a year asked how the very rich pay so little. The answer is not a secret and not a loophole. It is one line in the code, and everything else hangs on it. This page explains it, and corrects a story about commercial property that gets told at every dinner where the question comes up.
The health savings account: three tax breaks and one gate. The account people describe with the most excitement and understand the least. It does something no other account does, and there is a gate in front of it that many people cannot walk through.
A definition says what a thing is; it never says whether it fits you. The guides explain how it works and name the professional who confirms it for a particular person. The No Advice Disclosure.
Words beside it
- high deductible health plan
A type of health insurance where you pay more of your own medical bills upfront before the insurance company starts helping you pay.
- nondeductible
This describes money you put into an account that you already paid taxes on, so you cannot subtract it from your taxable income that year. It matters because it affects how much tax you owe later when you take the money out.
- nondeductible contribution
A nondeductible contribution is money you put into a traditional IRA but cannot subtract from your taxable income that year. You still pay normal income tax on it upfront, which matters later when you convert it.
Ask about Deductible
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