Let them eat cake!… but make sure they eat it on your business premises. Seriously, where you entertain, eat a meal, or hold business meetings matters a lot to Uncle Sam and determines how big a deduction you can claim. For example, if you go out and party with your employees, you can enjoy a 100% deduction. But if you have a genuine business meeting with your employees at … [Read more...]
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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 design a retirement plan when you have employees
Let’s face it. When you have employees working for you, your retirement-plan design strategy can get pretty complicated. You have to decide how to maximize your own benefits and whether or not to provide retirement plans for your employees too. Sounds complicated but don’t lose heart. You do have some really good options. And we’ll outline six of them for you when you read … [Read more...]
How to choose the right retirement plan
You may not be retiring for many years, but now is the time to ask yourself a vitally important question… “Which retirement plan makes the best sense for me?” The problem is, there are so many alternatives, you may be confused about which plan design to choose. Should you go with a 401(k)? A profit sharing plan? A defined benefit plan? A SEP or SIMPLE IRA? If you’re … [Read more...]
Update on the Section 105 medical reimbursement plan
If you’re married, a Section 105 medical reimbursement plan can help keep money in your pocket, not Uncle Sam’s. But you don’t have to be married to get a nice tax break from the IRS. The fact is, unmarried and same-sex couples can also benefit from the proprietorship’s or one-owner C corporation’s health reimbursement plan. Want to find out more? Easy. Just read my new … [Read more...]