As you probably know, the Affordable Care Act (Obamacare) inflicted a host of new penalties and restrictions. What you might not know is that the old health care laws are still on the books. This means that to come out a winner, you have to know how to play the complicated health-care game the right way. Which is why I’ve written my new article. It will help you choose the … [Read more...]
Medical (for 105 plans see Section 105 medical plan)
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How to create year-end medical & retirement plan deductions
Time is running out! The fact is, if you don’t act by December, 31 you may lose some big tax deductions that you can (and should!) lawfully claim. I’m talking about medical deductions and retirement-plan contributions that can be positioned as business tax-deductions — deductions that can slash your 2013 tax bill! In my new article you’ll find six practical, proven strategies … [Read more...]
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...]
Get the best deduction for your S corporation health insurance
If you own an S corporation, getting a deduction for your health insurance can be a tricky business. As you may have already discovered, the tax rules governing health insurance can be extremely confusing. Which is why I urge you to take a look at the easy-to-understand flow chart that I’ve created and featured in my new article. Want to see at a glance how to get the … [Read more...]
How to protect S corporation health-insurance deductibility
Do you operate your business as an S corporation? If you do, you should be aware of a nasty catch-22 rule that the IRS has cooked up: Your S corporation may not deduct the cost of your health insurance as a fringe benefit… AND… if you pay for health insurance personally, you can’t deduct the cost as a self-employed individual! But don’t despair. There is a clever workaround … [Read more...]