“Maximize Tax Savings with These
Year-End Medical Plan Strategies“
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As the year comes to a close, it’s the perfect time to ensure your business is taking full advantage of every available tax-saving opportunity. Medical plans for small businesses with 1-49 employees are an often-overlooked goldmine for deductions, credits, and financial efficiency.
Our latest article, “2024 Last-Minute Year-End Medical Plan Strategies,” breaks down six actionable strategies to help you uncover potential savings and optimize your medical plan setup.
Here’s what you’ll learn:
- How to amend your 2021 tax return to claim up to $32,220 in refundable sick and family leave tax credits per person, including yourself.
- Why reimbursing your 2024 Section 105 health reimbursement arrangement (HRA) expenses before December 31 is crucial.
- The benefits of Qualified Small Employer HRAs (QSEHRAs) and Individual Coverage HRAs (ICHRAs) for businesses like yours.
- The steps S corporation owners need to take to properly deduct health insurance expenses.
- How to claim a 50% tax credit for providing group health insurance to employees.
Even if you think your current medical plan strategy is sufficient, this article might reveal money-saving opportunities you’ve missed.
Time is running out to implement these strategies before year-end deadlines. Don’t leave money on the table—act now to maximize your savings and plan for an even more profitable 2025.
CLICK HERE to read my completely new article titled:
“Maximize Tax Savings with These
Year-End Medical Plan Strategies”