Turning Family Health Costs into Tax Free Benefits To Help Pay For College/Or Help Fund A Retirement Plan Using a Section 105 Medical Reimbursement Plan
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Turning Family Health Costs into Tax Free Benefits To Help Pay For College/Or Help Fund A Retirement Plan Using a Section 105 Medical Reimbursement Plan
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About this listen
Most small business owners are aware that healthcare costs can consume a significant portion of their family's income. What many do not realize is that the tax code offers a powerful tool to shift those expenses from the personal side of the ledger to the business side. That tool is the Section 105 medical reimbursement plan, which allows a business to reimburse employees for health-care expenses on a tax-free basis. When structured properly, this plan can transform your family’s medical costs into deductible business expenses, resulting in substantial annual savings.
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.