It’s bad enough to be sick. But what can make you even sicker is the 10% early-withdrawal penalty the IRS assesses when you tap your traditional IRA to pay medical expenses. Want to avoid this non-deductable penalty and get better without the pain of losing some of your IRA’s value? We’ll show you how when you read my new article titled Tax Tips: Three Traps to Avoid … [Read more...]
Medical (for 105 plans see Section 105 medical plan)
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How to save your self-employed health-insurance deduction
If you’re a sole-proprietor, you need to read my new article now! Why? Because the IRS has laid a trap for you that could cost you your self-employed health insurance deduction. The truth is, all too many sole-proprietors learn about this trap at the worst possible moment… when they file their tax returns. If you want to avoid problems and save a lot of money, don’t miss … [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...]
How to offer dental and vision benefits under Obamacare
Offering a Section 105 health plan to your employees used to make a lot of sense. But as you’ll learn in my new article, in the Obamacare era you have to be careful about what medical coverage you offer and to whom you offer it! Make a mistake and you could face $100-per-day penalties! But here’s some good news… You can still offer various types of coverages without … [Read more...]
S corporation owners! Deduct all your health insurance premiums
Here’s good news for S corporation owners… If you take three steps (that we’ll explain), you can deduct all your health insurance premiums! If you don’t follow our advice, you can be in for nasty surprise. Zero tax benefits. Zilch. The bottom line? We’ve got must-read information waiting for you when you read our new article titled Tax Tips: Three Easy Steps to Deducting … [Read more...]