Sure. Disability insurance makes a lot of sense. If you’re ever laid up and unable to work, it’s nice to have a dependable source of income. Want to learn when the IRS will let you or your corporation deduct disability premiums and collect disability premiums tax free? Easy. You’ll get all the money saving information you need when you read my new article titled Tax Tips … [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...]
2016 health insurance for S corporation owners
A little history… For 2014 and 2015, the IRS let S corporations escape the $100-a-day penalties on select corporate payments of health insurance (for owners with a more than two percent ownership interest). But what about 2016? I’ll tell you exactly what you need to do with your S-corporation to make sure you keep your health insurance deductions and avoid penalties for … [Read more...]
Captive Insurance: Last Big Tax Shelter
Do you have significant insurance needs? If you do, you should consider creating and owning a “captive” insurance company. Why? Because a captive insurance company could… Save you big money Create a substantial tax shelter Produce a nice pile of cash Want to find out if a captive insurance company makes sense for you? Read my new article Tax Tips: Captive … [Read more...]
The right way to deduct long-term care insurance
Do you have long-term care insurance? If you don’t, you really should consider getting some. Here’s why… FACT #1: Between ages 40 and 50, on average, 8% of people have a disability that could require long-term care services FACT #2: 70% of people turning age 65 can expect to use some form of long-term care during their lives On a happier note, you should know that if you … [Read more...]