As tax professionals we believe it is our obligation to inform our clients of any tax savings ideas that we discover that would help save valuable tax dollars.  One such idea that we've helped put in place for many business owner clients is a Section 105 Health Reimbursement Arrangement, or Section 105 Plan.

In order to qualify, you must own a business, farm, ranch, etc., and:

• Be able to employ your spouse if you are a Schedule C or Schedule F business or farming operation;
• Need only employ yourself if you are taxed as a C-corporation or an S-corporation (there are special considerations and limitations if you are an S-corporation.)  This includes LLC taxed as these entities;
• Non-Profit organizations can qualify

This important tax-saving strategy involves implementing a plan called an Individual HRA (Health Reimbursement Arrangement).  It permits business owners to deduct 100% of family health insurance premiums and 100% of family out of pocket medical expenses each year.  This includes such things as dental, orthodontia, eye care, prescription drugs, acupuncture, chiropractic…..the list goes on and on.  

Enrolling in this plan is quick and simple.  Our fee is $200* per year to cover the documentation, set-up, etc., but in turn, enrolling in this plan could save you over $2,500 per year in taxes!  

Investment

The Investment for your Section 105 HRA Plan, customized for your business, is just $200 for the plan set up and first employee/owner, and $65 for each additional employee.  Your Plan includes a private web-based administration center where you can access your plan documents, enter all of your employees' medical expenses, and create year-end reports for your tax advisor.  We will help you review your year-end reports for accuracy, completeness, and compliance at no additional cost to you.

For IMMEDIATE information and to enroll, please send us an email at info@wlbaccounting.com or call us toll-free at 888.471.8032.  It takes a few minutes on the phone to set up your Plan and start your tax savings TODAY!

* Package descriptions, services, and price & terms are subject to change without notice.

[ Home ]

Send mail to webmaster@wlbaccounting.com with questions or comments about this web site.
Copyright © 2007, 2008 W L B Accounting Solutions LLC
Last modified: January 02, 2009

W L B Accounting Solutions LLC 5350 W Bell Road C-122 #409   Glendale Arizona 85308