Funding college education costs with tax-deductible dollars has never been easier, thanks to expanded practice job duties and increased tax breaks. Likewise, building a substantial HSA investment account to fund future medical expenses has also grown easier, due to higher contribution limits and favorable tax rules. Below, Wes Lyon, CPA, CFP^® outlines a unique strategy combining the benefits of these tax-savvy strategies for your family.

We’ve long recommended employing your children through your practice beginning at age 6 and paying them the highest reasonable compensation for their services. As your children grow older, their job duties can increase, allowing for higher tax-deductible payments.