New guidance from the IRS on the new health care law is a major downer. Why? Because it says that the owner of a business may not claim the 35 percent tax credit on the health insurance premiums paid to cover his or her spouse. What does this mean to you? You’ll find out when you read my important new article called Tax Tips: IRS Says No Tax Credit on Health Insurance Premiums … [Read more...]
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Get your personal economic stimulus package
Did you know that “The Small Business Jobs Act of 2010” spends $12 BILLION on small businesses? Are you getting your fair share of this money meant to stimulate the economy? To learn how the one-owner business can cash in on The Small Business Jobs Act of 2010, read our brand new article titled New Law: Another Small-Business Economic Stimulus Package for You. Three ways our … [Read more...]
Tax tips on the IRS Section 105 medical reimbursement plan
Important news! The IRS has just clarified the Section 105 medical reimbursement plan rules for deducting over-the-counter drugs in 2011. That’s right. In Notice 2010-59, the IRS clarified the new definitions and considers this guidance to have the force of regulations. If your business wants to stay in compliance with the 2010-2011 requirements, read our new article titled … [Read more...]