Tailor your medical costs for tax savings and maximum benefit to those that mean the most to your success ...



Benefit plans chosen wisely for the business owner and employees can save substantial taxes.  You just need to choose the right plan document that will save you the most in taxes with the least change in current cash flow.  This helps the self-employed person that works with their spouse in a big way, but can also help those who hire unrelated employees.  It helps legitimize your deductions and gives you good documentation if any government authority checks on your employee benefit plans or other tax deductions.

Below is a link offering you a way to get information on these benefit plans and how to implement them.  It is critical that you put the plans in place to offer these tax saving benefits to those who work for you.  Section 105 Health Reimbursement Accounts are a good place to start for the self-employed who do have their spouse help them on a regular basis.  It can easily save you a lot in taxes (many regularly save thousands per year) by putting amounts you will spend anyway under one of these plans.  Taxpayers often get little or no tax savings on medical expenses without the plan documents, but do get full business deductions with all of the resulting tax savings once the plan is in place and expenses documented. 

The following website will help you find the right kind of plan so you can design it the way that you need for your family and employees who work in your business.  It is automated and helps you design a plan the way you want that complies with the laws and IRS regulations.  You can also outsource administering these plans right on the website or use the software to keep track of your employees useage of the plans.  It is a way to help my business clients continue to move their numbers onward and upward!  Try this link today ...

http://www.flexaffiliates.com/plan/Sheldon/index.php 

 

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  • 5/23/2009 11:52 AM CPASheldon wrote:
    Hope everyone that sees this can check the link and get more familiar with how employees, employers and the self-employed can save a lot of income taxes, self-employment taxes, payroll taxes and benefit costs by getting a plan that works best for them and putting it in place.
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