Here’s good news for small businesses! Starting on January 1, 2017, you can establish a new “Qualified Small-employer Health Reimbursement Arrangement” (QSEHRA). The QSEHRA was created to help small-business owners help their employees pay for their health insurance and other medical costs. And without worries about the per-employee, $100-per-day penalty. (That’s $36,500 … [Read more...]
Section 105 medical plan
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Deduct the cost of “emotional support” animals
Coping with depression, anxiety, or other mental conditions can be difficult indeed. Often, an emotional support animal can provide important comfort and assistance. The IRS recognizes this. So if you qualify, you can deduct the cost, training, and maintenance of your companion animal. Want to get all the details? Read my new article titled Tax Tips: Can Your Emotional … [Read more...]
Unlock the power of a Section 105 plan!
Sure. Health insurance premiums are sky high. But if you have a properly planned and executed Section 105 plan, you don’t have to worry. You see, this plan works like magic, turning your medical expenses into tax-favored business deductions that save on both income and self-employment taxes. You’ll get all the details when you read my new article titled Tax Tips: Make … [Read more...]
Triple Tax Advantages: Reimburse Your Employee-Spouse for Health Insurance
It’s a fact. If you’re a Schedule C business-owner, you and your spouse must get health insurance for yourselves (and other dependents) or face a hefty penalty. The good news is that a properly-established proprietorship reimbursement arrangement can provide three big tax advantages for you and your spouse. Want to learn how to become a trifecta tax winner? Read my … [Read more...]
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...]