Western citrus leaders anxious to learn from Texas HLB
MaryLou Polek of the California Citrus Research Board concurs with other Western citrus leaders: It is a matter of when ? not if ? citrus greening disease is found in California and Arizona.
<div class="field-image-promo">
<a href="/orchard-crops/western-citrus-leaders-anxious-learn-texas-hlb" class="imagecache imagecache-med_crop imagecache-linked imagecache-med_crop_linked"><img src="http://westernfarmpress.com/site-files/westernfarmpress.com/files/imagecache/med_crop/uploads/2012/02/citrus-psyllid-check.jpg" alt="" title="" class="imagecache imagecache-med_crop" width="355" height="200" /></a>
</div>
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/orchard-crops/western-citrus-leaders-anxious-learn-texas-hlb" target="_blank">read more</a></p>Asian citrus psyllid - Huanglongbing disease photos
<div class="field-image-promo">
<a href="/orchard-crops/asian-citrus-psyllid-huanglongbing-disease-photos" class="imagecache imagecache-med_crop imagecache-linked imagecache-med_crop_linked"><img src="http://westernfarmpress.com/site-files/westernfarmpress.com/files/imagecache/med_crop/gallery_promo_image/CITRUS PROCESSING.jpg" alt="" title="" class="imagecache imagecache-med_crop" width="355" height="200" /></a>
</div>
<div class="og_rss_groups"></div>Arizona Agri-Weekly: barley seeding in final stage
Ariozna alfalfa conditions remain mostly fair to good. Harvest continues in a few areas across the state.
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/vegetables/arizona-agri-weekly-barley-seeding-final-stage" target="_blank">read more</a></p>EPA questioned over CAFO rules
<div class="field-byline">
National Cattlemen's Beef Association
</div>
The center of CAFO concern stems from what was referred to as a serious overreach of EPA's authority. NCBA Deputy Environmental Counsel Ashley Lyon said the proposed rule could put the nation's food system at risk of increased terrorist attacks.
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/epa-questioned-over-cafo-rules" target="_blank">read more</a></p>California Crop Weather: more rain needed in dryland grain
Dryland grain growth and development improved from recent rains. However, crops were irrigated since more precipitation was needed to sustain growth.
<div class="field-image-promo">
<a href="/tree-nuts/california-crop-weather-more-rain-needed-dryland-grain" class="imagecache imagecache-med_crop imagecache-linked imagecache-med_crop_linked"><img src="http://westernfarmpress.com/site-files/westernfarmpress.com/files/imagecache/med_crop/uploads/2012/02/barley.jpg" alt="" title="" class="imagecache imagecache-med_crop" width="355" height="200" /></a>
</div>
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/tree-nuts/california-crop-weather-more-rain-needed-dryland-grain" target="_blank">read more</a></p>Developing nations leap ahead in GMO race
Biotech crops were planted by 16.7 million farmers in 29 countries, up from 15.4 million farmers in the same number of countries in 2010. The global value of biotech seed alone was $13.2 billion in 2011, with the end product of commercial grain from biotech maize, soybean grain and cotton valued at $160 billion or more per year.
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/developing-nations-leap-ahead-gmo-race" target="_blank">read more</a></p>US organic trade regulations eased with Canada
U.S. organic dairy, beef, sheep, goat, and bison producers exporting products to Canada will benefit from more streamlined trade.
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/government/us-organic-trade-regulations-eased-canada" target="_blank">read more</a></p>Beef and Livestock Pavilion brings competition to World Ag Expo
At World Ag Expo 2012, Pavilion D, which is home to beef and livestock exhibitors, seminars, live cattle demonstrations and new for this year, a ranching and livestock competition, is the place to be to see the latest advances in the beef and livestock industries.
<div class="og_rss_groups"></div><p><a href="http://westernfarmpress.com/management/beef-and-livestock-pavilion-brings-competition-world-ag-expo" target="_blank">read more</a></p>
dental expenses, eyeglasses, chiropractic visits, over-the-counter medications, and sometimes even nutritional supplements.
Now is a good time to make sure you have an accurate record of your medical expenses for the year. Make sure you separate the expenses for which you have reimbursed yourself from your HSA from those that you paid for out-of-pocket. You'll want to keep receipts for all medical expenditures paid from your HSA with your 2006 tax records. Place the "non-reimbursed medical expenses" in a separate file, keeping them with the concurrent year's tax records in whatever year you decide to reimburse yourself.
The penalty for over-funding your HSA is a whopping 6%. You have until April 15, 2007 to withdraw excess funds for the 2006 tax year to avoid the penalty. Your HSA administrator may notify you of any over-funding, but they are under no obligation to do so. It is your responsibility, so make sure you check into this if you think your may have over-funded you account.
The minimum deductible for HSA-compatible health insurance plans in 2006 was $1,050 for individuals and $2,100 for families. In 2007 this will increase to $1,100 for individuals and $2,200 for families. If you currently have an HSA-qualified plan with the lowest eligible 2006 deductible, that deductible will automatically go up on January 1 to the new minimum.
Strategies to Maximize Your Tax Benefits
There are basically three different strategies you can take when deciding how to fund your health savings account.
1. Put no money in the account, except when you incur a medical expense. This strategy allows you to legally "launder" any money used to pay medical expenses. In other words, by depositing money into your HSA, then immediately withdrawing it to reimburse yourself for medical expenses, you are making your medical expenses all tax-deductible. You may want to use this strategy if you are on a tight budget and want to keep your cash outlay as low as possible.
2. Fully fund the account, or at least put in as much as possible based on your budget. Take money out of the account any time medical expenses are incurred, and let the rest grow tax-deferred. This strategy will maximize your tax deduction, while making your HSA funds available to pay any non-covered medical expenses before your deductible is met.
3. Fully fund the account, but pay all medical expenses from a non-HSA account. Reimburse yourself for medical expenses at a later date. This strategy will allow you to maximize your tax deduction, and will also allow you to maximize the tax-deferred growth of your HSA. You can then reimburse yourself, tax-free, at any time in the future for medical expenses incurred over the ensuing years.
To maximize the potential growth of your funds, you may want to make your 2007 deposits as early in the year as possible. Any growth in your account is tax-deferred, like an IRA. If possible, you should plan to make your deposit the first week in January.
About the Author The Article is written by Wiley Long - President, HSA for America (www.health--savings--accounts.com) - The nation's leading independent health insurance firm specializing in www.health--savings--accounts.com">Health Savings Plans that works with Health Savings Accounts._________________ Copyright information.... This article is free for reproduction but must be reproduced in its entirety.
Here are some more accountant articles...
