Do you own a life insurance policy? If you do, there’s a fact you should know. FACT: The build-up of cash value in your life insurance policy, coupled with loans against the policy, can create a whopping, unexpected tax bill. If you want to learn when life insurance policy loans create taxable income, I urge you to read my new article titled Tax Tips: Life Insurance Policy … [Read more...]
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For your HSA, buy high-deductible insurance
As I hope you know, the tax-favored Health Savings Account (HSA) can be a real money-saver. But you have to know how to get the most from it. For example, you can purchase high-deductible health insurance that can dramatically increase your HSA benefits. Want to learn how? Read our brand new article titled Tax Tips for the HSA: Buying High-Deductible Insurance. Three ways our … [Read more...]
A quick guide to how Health Savings Accounts work
If you thought that Health Savings Accounts were only for the “big boys,” you couldn’t be more mistaken. You see, proprietorships, S corporation owners, and C corporation owners can all benefit greatly from the HSA. How? You’ll find out when you read our latest article titled Tax Tips: Should You Have a Health Savings Account? Three ways our fact-filled article can help … [Read more...]
How to manage your S Corporation fringe benefit problem
It’s a fact. Your S Corporation may not give you the tax-free fringe benefits you want. In the good old days, the S Corporation avoided double taxation, reduced self-employment taxes, and also gave you a bunch of fringe benefits. Well, sadly, the good old days are long gone (since 1982). Which means that when the S Corporation is your 2011 business entity of choice, you have … [Read more...]
Is a Health Savings Account (HSA) right for you?
A Health Savings Account (HSA) can offer a great opportunity to save on insurance costs and create an investment nest egg. But the fact is, an HSA isn’t right for everyone. That’s why it’s so important to read our new article titled Tax Tips: Seeing the HSA in Action for One Year. Three ways our fact-filled article can help you: We’ll go over the simple math with you. To … [Read more...]