What Is Form 1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA? Form 1099-SA: Distributions from an HSA, Archer MSA, or Medicare Advantage MSA is an Internal Revenue Service (IRS) form that reports distributions made from various health accounts. These include distributions from a health savings account (HSA) , an Archer medical savings account (MSA) , or a Medicare Advantage (MA) MSA. It also provides reporting information on the inheritance of accounts by spouses, non-spouses, and estates. Amounts shown on Form 1099-SA must be reported on the taxpayer's federal income tax form. Key Takeaways Form 1099-SA form is sent to individual taxpayers who receive distributions from health savings, medical savings, and Medicare Advantage accounts. Information from Form 1099-SA is reported on either Form 8853 or Form 8889. Unused distributions from an HSA must be reported as income. You can repay a mistaken distribution from a health savings … [Read more...] about IRS Form 1099-SA: What It Is, Who Has to File and How
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Tesla Cuts US Prices on Most Expensive Models
Key Takeaways Tesla lowered the prices of its most expensive models for the second time this year. The price cuts come just days after investors expressed disappointment the company didn't unveil a new model at last week's investor day. The average price for a new Tesla has fallen by half in the past five years; the least expensive models now account for 95% of sales. Other automakers could follow amid gloomy profit forecasts. Shares of Tesla fell as much as 2% today after the company reduced U.S. prices of its most expensive models. Tesla cut the prices of its Model S sedan by 5% to $89,990 from $94,990 and its Model X SUV by 9% to $99,990 from $109,990. The company also reduced the upscale Plaid versions of each model to $109,990, down $5,000 and $10,000, respectively. The price reductions came days after investors expressed disappointment that Tesla didn't unveil a lower-priced model at its first-ever investor day . They also follow cuts of up to 20% on … [Read more...] about Tesla Cuts US Prices on Most Expensive Models
Google scores partial victory in Android antitrust case in India
NEW DELHI -An Indian tribunal on Wednesday gave partial relief to Alphabet Inc’s Google by setting aside four of 10 antitrust directives in a case related to abuse of its dominant position in Android. The Competition Commission of India (CCI) said in October that Google had exploited its dominant position in Android and told it to remove restrictions imposed on device makers, including related to pre-installation of apps. It also fined Google $161 million. An Indian appeals tribunal on Wednesday said CCI’s findings of Google’s anti-competitive conduct were correct and the company was also liable to pay the fine, but it quashed four of the 10 antitrust remedies that had been imposed on Google to change its business model. Among the reliefs, Google will now not need to allow hosting of third-party app stores inside Play Store, as had been previously ordered by the CCI. The move will come as some relief for Google after India’s Supreme Court in January refused to suspend any of … [Read more...] about Google scores partial victory in Android antitrust case in India
Korean companies may walk away from CHIPS Act money
The U.S. President Joe Biden signs the CHIPS and Science Act of 2022, on the South Lawn of the White House in Washington, DC on August 9, 2022. [AFP/YONHAP] The United States is pushing foreign chip makers to disclose sensitive business data, including yield rates, to receive subsidies under the CHIPS and Science Act. Onerous is the requirement that some companies might decide not to apply for funding. The yield rate, the amount of a silicon wafer that is successfully made into dies, is considered a key indicator to determine a chip producer's manufacturing capabilities. It is often confidential. Other required information includes production capacity for each wafer, operation rates, estimated production yields, semiconductor prices on first-year production, annual production figures and the increase or decrease rate of the cost. All of the information need to be submitted as Excel files. It can be used to verify the final numbers and the calculation process, the U.S. … [Read more...] about Korean companies may walk away from CHIPS Act money
Country’s Largest Egg Producer Saw Profits Surge 718% Amid Shortage
Share to Twitter Share to Linkedin Topline Cal-Maine Foods, the nation’s biggest egg producer, experienced a seven-fold year-over-year jump in quarterly profits in the three-month period ending February 25, according to its Tuesday afternoon earnings report , a jarring revelation into how the company cashed in on soaring egg prices. Key Facts Cal-Maine sold 291,000 cartons of a dozen eggs at an average price of $3.30 per carton last quarter, an increase of 1.3% in unit sales compared to the same period last year at more than twice the price. Thanks to soaring retail egg prices nationwide as Cal-Maine’s competitors dealt with an avian flu outbreak that caused egg shortages, Cal-Maine scored $323 million in profits last quarter, a 718% year-over-year increase and a more than 2,000% increase from the same period in 2021. In a statement accompanying the earnings release, Cal-Maine CEO Sherman Miller defended his company’s surge in profits and … [Read more...] about Country’s Largest Egg Producer Saw Profits Surge 718% Amid Shortage
Zooming Wine Into Your Home
Share to Twitter Share to Linkedin My wife and I really enjoy wine tasting. We’ve driven up to 50 miles away, to visit several local wineries the past five years. Yes, it’s interesting learning about various wines, winemaking processes and each vineyard. Ultimately, though, it’s still all about drinking the vino, socializing with friends, enjoying the views, and having a good time. Of course, the issue always comes up about who’s going to drive because let’s face it, someone’s wine tasting needs to be cut short so they can be the designated driver back from what’s usually a remote location. But I recently came across a wine tasting platform that not only eliminates that problem, but makes the experience much easier and more convenient. Sommsation is a two-year-old company offering virtual wine tastings. It came about during the pandemic, but curiously not because it was a form of physically distanced wine tasting. “We set out to build a modern wine … [Read more...] about Zooming Wine Into Your Home
Istanbul Elections: Failure Of Polarising Tactics In Turkey
Share to Twitter Share to Linkedin Turkey's President Recep Tayyip Erdogan casts his ballot at a polling station in Istanbul, Sunday, ... [+] June 23, 2019. Polls have opened in a repeat election in Turkey's largest city where Erdogan and his political allies could lose control of Istanbul's administration for the first time in 25 years. (AP Photo/Emrah Gurel) For President Recep Tayyip Erdogan, losing control of Istanbul, Turkey's economic and political powerhouse, at the local elections yesterday is a big blow, possibly the most stinging defeat of his political career. If the AK Party hadn't pushed for the cancellation of the March election, it would have been easier to recover from a narrow defeat in Istanbul and several other major cities, including Ankara and Adana. Now, however, after a defeat of a far more significant margin, the ruling party is in a much weaker position. Istanbul's importance The elections have been viewed widely as … [Read more...] about Istanbul Elections: Failure Of Polarising Tactics In Turkey
453,000 Borrowers Approved For Student Loan Forgiveness Under Waiver As Processing Continues
Share to Twitter Share to Linkedin Nearly half a million people have been approved for federal student loan forgiveness under a one-time waiver program geared towards borrowers working in public service jobs. Processing is continuing. Many more borrowers may ultimately qualify, even while another Biden administration initiatives — the one-time mass student debt relief plan — remains blocked by federal courts . Student Loan Forgiveness Under PSLF Waiver Accelerates Public Service Loan Forgiveness (PSLF) is a federal student loan forgiveness program that can eliminate the federal student loan debt for borrowers who commit to public service careers. After 120 “qualifying payments” (equivalent to 10 years) while working for approved nonprofit or government employers, borrowers can receive a complete discharge of their federal student debt. Historically, PSLF has been a troubled program since its creation in 2007. PSLF has had complicated … [Read more...] about 453,000 Borrowers Approved For Student Loan Forgiveness Under Waiver As Processing Continues
NCAA Coaches McDermott And Tang Lose A Game Of Basketball But Win The Game Of Life
Share to Twitter Share to Linkedin In the NCAA Men’s National Basketball Tournament, March 2023 has been all about upsets. As the tournament heads into its final weekend, the four teams left standing includes perhaps one team, the Huskies of Connecticut, who anyone has heard much about this season. The other teams — Florida Atlantic, San Diego State, and Miami — weren’t expected to sniff the Final Four, much less crash the party. How unexpected is this quartet headed to Houston for the championship: more than 280,000 brackets submitted to ESPN had ALL FOUR teams losing in the first round, so let’s give kudos where they’re due. But surprising results aren’t the source for the best Elite Eight lesson from this year. No, the greatest lessons come from two coaches who lost their games last weekend, Creighton’s Greg McDermott and Kansas State’s Jerome Tang. Simply put, the way they handled their losses offer a masterclass in grace. The Creighton-San Diego State … [Read more...] about NCAA Coaches McDermott And Tang Lose A Game Of Basketball But Win The Game Of Life
Why It’s Hard, But Necessary, To Be Human At Work
Share to Twitter Share to Linkedin Last fall, the top 250 executives of a major, global telecommunications company gathered together for a three-day leadership summit. The summit kicked off with a strong call to action by the CEO. Even with the company’s growth, strong performance, and market dominance, the CEO exhorted the leaders gathered in front of him to work harder and to do even better. Seventy-two hours later, the CEO took the stage again, but this time he delivered a different message. The company would continue to drive performance and deliver results, he shared, but care would be at the core of the company’s strategy. “Performance” and “care” would be intertwined – two vital and necessary elements for the company’s long-term health and viability. Though the speed was remarkable, this kind of pivot was not unique to this CEO. A year ago, we published our research into a human-centered model of leadership in a book called Compassionate Leadership: … [Read more...] about Why It’s Hard, But Necessary, To Be Human At Work