It’s a fact. The Affordable Care Act (ACA) destroyed many benefits provided by the Section 105 medical reimbursement plan. To rectify this, the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA), introduced in 2017, did help to some extent. How? By letting employers with fewer than 50 employees, reimburse certain health care costs up to a set limit … and … [Read more...]
Medical (for 105 plans see Section 105 medical plan)
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How to Deduct Assisted Living and Nursing Home Bills
Having to leave your home for a stay in an assisted living facility or nursing home can be a painful experience. To add to the pain are the related astronomical bills you’ll have to pay. Consider these facts… The median cost in 2018 for a year in an assisted living facility was $48,000 and over $100,000 for nursing home care. To soften the financial blow, you can take … [Read more...]
No FICA On Health Insurance for the More-Than-2% Shareholder-Employee
No FICA On Health Insurance for the More-Than-2% Shareholder-Employee Are you running an S corporation? Then you need to know the answer to this important question… How should your S corporation treat the more-than-2% shareholder-employee for Social Security, Medicare, and federal unemployment taxes? You’ll learn how we answer this question and many others when you read … [Read more...]
Free: “Your Guide to Overlooked Medical Deductions”
Don’t miss all the valuable medical deductions you’re entitled to!Important money-saving information is yours with a click… Download your FREE copy of “Your Guide ToOverlooked Medical Deductions" This comprehensive guide from Bradford Tax Institutenormally sells for $79… but it’s yours FREE if you act now! Dear Business Owner: We both know it … medical expenses … [Read more...]
Don’t Make This S Corporation Health-Insurance Deduction Mistake
Do you own more than 2-percent of your S corporation? Then be sure to follow the special IRS rules that allow you to deduct your health-insurance premiums. These rules are particularly important if your S corporation employs your parents and/or non-dependent children who don’t own any stock in your corporation. And be aware: If you handle things the wrong way, your … [Read more...]