What the heck is the pesky little PCORI fee you have to pay and why should you care? Here’s the short answer… If you’ve established a Health Reimbursement Arrangement (HRA) for your employees and/or your spouse, you’ve got to pay the small PCORI fee to Uncle Sam. (More details below.) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ A Quick Reminder.HRAs that you likely have come … [Read more...]
Fringe Benefits
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83(b): Restricted Stock Awards and Your Taxes
Two facts about stock options you should be aware of… FACT #1: Stock options can lose most or all of their value if the underlying stock goes down in price. FACT #2: In contrast, restricted stock awards retain significant value as long as the underlying stock has appreciated. So what does the tax law have to do with these facts? Plenty. There are important federal and … [Read more...]
2019 Last-Minute Year-End Medical and Retirement Deductions
Are you thinking about how to handle your retirement accounts and medical coverage/plans from a tax perspective? You should be concerned about these issues because December 31 is almost here and if you take action before that date, you could save yourself a lot of money. We’ll show you proven, totally legal techniques you can use right now (before time runs out) when you … [Read more...]
Federal Tax Deductions for Section 127 Education of Grandchild
How would you or your corporation like to help pay for your grandchild’s college education (or other training), and get a nice business tax deduction at the same time? Well, you can. All you have to do is know how to take advantage of Section 127 of the tax code. Want to find out more about how to put Section 127 to work for you? Read my new article titled Tax Tips: … [Read more...]
No FICA On Health Insurance for the More-Than-2% Shareholder-Employee
No FICA On Health Insurance for the More-Than-2% Shareholder-Employee Are you running an S corporation? Then you need to know the answer to this important question… How should your S corporation treat the more-than-2% shareholder-employee for Social Security, Medicare, and federal unemployment taxes? You’ll learn how we answer this question and many others when you read … [Read more...]