It’s a fact… The Affordable Care Act (Obamacare) doesn’t apply to a business that has only one employee. That’s good news. Your spouse can benefit from what I call a “105-HRA” (Health Reimbursement Arrangement). When you design it for your spouse, the plan reimburses him/her for family medical expenses. The reimbursements are business-expense deductible on your tax … [Read more...]
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Unlock the power of a Section 105 plan!
Sure. Health insurance premiums are sky high. But if you have a properly planned and executed Section 105 plan, you don’t have to worry. You see, this plan works like magic, turning your medical expenses into tax-favored business deductions that save on both income and self-employment taxes. You’ll get all the details when you read my new article titled Tax Tips: Make … [Read more...]
Great benefits for your S Corp employee-spouse
There’s bad news and good news for S Corporation owners. The bad news: The IRS disallows some fringe benefits for employee-spouses The very good news. There are still plenty of outstanding fringe benefits you can provide tax free to your employee-spouse. We’ll tell you all about the goodies waiting for your spouse when you read my new article titled Tax … [Read more...]
Triple Tax Advantages: Reimburse Your Employee-Spouse for Health Insurance
It’s a fact. If you’re a Schedule C business-owner, you and your spouse must get health insurance for yourselves (and other dependents) or face a hefty penalty. The good news is that a properly-established proprietorship reimbursement arrangement can provide three big tax advantages for you and your spouse. Want to learn how to become a trifecta tax winner? Read my … [Read more...]
Tax Secrets of Renting a Bedroom in Your Home
Do you have a spare bedroom(s) that you’d like to rent out? Go right ahead. I’m sure you’d like to pocket some extra cash and put that spare room to use. But be careful. You see, the IRS has set some dangerous traps for you that could cost you big money. If you want to stay on Uncle Sam’s good side, take my advice and read my new article titled Tax Tips: Secrets to … [Read more...]