Thinking about borrowing money from your life insurance policy? Before you do, you’d better ask yourself these three important questions… Am I using the loans for a business purpose? Am I repaying the loans? If I’m not repaying the loans, what happens when the money I’ve borrowed terminates my policy? If you haven’t answered these questions and thought about the … [Read more...]
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How to survive Obamacare AND help your employees
Sure, you want to help your employees pay for their medical expenses. But you may be afraid that under Obamacare, your small business won’t be able to afford coverage for them… or even yourself! Well, don’t lose hope. Consider providing a Health Savings Account (HSA)! Yes. HSAs have survived the Obamacare reforms and they may just be the tax-advantaged healthcare solution … [Read more...]
The truth about Obamacare and Section 105 plans (HRAs)
The Affordable Care Act (Obamacare) is about 20,000 pages long. So if you haven’t personally read the passages dealing with changes to Section 105 medical reimbursement accounts (HRAs), no one can blame you. Luckily for you, we’ve done the research on the subject and are happy to share it with you. The punch line is that there’s good news and there’s bad news. If you are … [Read more...]
Disability policies and the self-employment tax
Here are three extremely important questions that every business owner should know the answers to… Do you have disability insurance? Is your disability protection a traditional disability income policy or a disability “overhead expense” policy? If you become disabled, do you have to pay self-employment taxes on the benefits you receive? You’ll find detailed answers … [Read more...]
A tax-free fix for a bad annuity
Inheriting an annuity is great. But what happens if the annuity turns out to be a lousy investment? The good news is you’re not stuck with it! That’s right. If you know what you’re doing you can use a Section 1035 tax-free exchange to solve your problem. All it takes is the right information which I’ll provide in my new, free article titled Tax Tips: Mom Dies: Daughter … [Read more...]