Offering a Section 105 health plan to your employees used to make a lot of sense. But as you’ll learn in my new article, in the Obamacare era you have to be careful about what medical coverage you offer and to whom you offer it! Make a mistake and you could face $100-per-day penalties! But here’s some good news… You can still offer various types of coverages without … [Read more...]
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S corporation owners! Deduct all your health insurance premiums
Here’s good news for S corporation owners… If you take three steps (that we’ll explain), you can deduct all your health insurance premiums! If you don’t follow our advice, you can be in for nasty surprise. Zero tax benefits. Zilch. The bottom line? We’ve got must-read information waiting for you when you read our new article titled Tax Tips: Three Easy Steps to Deducting … [Read more...]
How to slash your unemployment tax bill
Want to save a lot of money next time you hire a new worker? Don’t hire them as an “employee.” Add them as an “independent contractor.” That status distinction can save you a bundle as you’ll learn when you read my new article. In fact, you can save literally thousands of dollars in federal employment and unemployment taxes by knowing how to play the game. But be careful. … [Read more...]
Don’t let expense report blunders trigger higher taxes
Do you operate your business as an S or C corporation? Do you reimburse yourself (the owner-employee) and/or your employees for the business expenses you or they incur? If you do, you could be losing thousands of dollars worth of tax deductions as I’ll explain in my new article. You see, if you don’t follow the IRS’s expense reporting rules (“accountable plan” rules) you’re … [Read more...]
How to get a 100% deduction for employee meals
Eat, drink, and be merry, for tomorrow you dine. And you’ll dine 100% tax free if you know the law… as I’ll explain in my new article. That’s right. When you take your employees out to lunch, the IRS normally lets you deduct just 50% of the lunch expense. But, if you know how to play the IRS’s game, you can provide meals for your employees and write off 100% of the … [Read more...]