by meesekhan | Mar 9, 2020 | 2020 Tax Information, Blog
The Section 105 medical reimbursement plan was a great option for small businesses that wanted to provide health care coverage to their employees—until a change destroyed much of the benefit by requiring the plans to provide the Affordable Care Act (ACA)-compliant...
by meesekhan | Mar 2, 2020 | 2020 Tax Information
Be sure to follow the special IRS rules that allow you to deduct your health insurance premiums. These rules are particularly important if your S corporation employs your parents and/or non-dependent children who don’t own any stock in your corporation. And be...
by meesekhan | Feb 24, 2020 | 2020 Tax Information
What is an accountable plan? An accountable plan is an expense reimbursement or allowance arrangement that requires employees to substantiate expenses and return unsubstantiated advances. With the plan, the reimbursements are tax-free to recipient employees. And the...
by meesekhan | Feb 17, 2020 | 2020 Tax Information
Do you sponsor a sports team, or have you thought about sponsoring one? This kind of sponsorship can be great PR for your company and position you as a community-minded citizen. But what are the tax implications of becoming a team sponsor? What are the relevant...
by meesekhan | Feb 14, 2020 | 2020 Tax Information
Here are a few ways we can help: How to determine if you should operate as an S corporation to take better advantage of the 20 percent deduction in the new tax code Section 199A. How to use an IRS-approved method to set your salaries for excellent tax savings. The...
