Save $$$ On Your Tax Bill – Every Year!

If you own your own business, you need this information! Many business owners don’t know about this business tax loophole, or if you have heard about it, you may think it can’t possibly be legitimate.

I’ve been a tax consultant since 1993, and I’ve set several clients up with a business program to take advantage of this relatively-unknown part of the U.S. tax code. When it’s set up, documented, and used properly, it can make a tremendous difference in your tax bill every year. This is a part of the tax code that’s been around since 1954!

Many business owners know that they can deduct their medical insurance premiums through their business. But did you know you can also deduct through your business:

• Out of pocket expenses for all your medical, dental, and vision expenses
• Your co-payments for office visits and prescriptions
• Mileage to and from your doctor or dentist office
• Up to $50,000 of term life insurance for you (the business owner)
• Long term care insurance premiums
• Accident and disability insurance premiums

Depending on your business structure and the plan you put in place, you might also be able to deduct costs for:

• An on-site fitness facility
• Over-the-counter medications (aspirin, antacids, cough syrup, pain relievers, ointments, etc.)

Some real-life examples from my client file:

• Brian and Jenny’s (not their real names) beautiful baby daughter was born with a congenital problem that required life-long treatment and medical procedures. They restructured their business and put their plan in place. Every penny that insurance didn’t cover was deducted through their business, saving them thousands of dollars in taxes;

• Joe and Marisa were faced with the possibility of expensive medical bills. Although they had an incredibly profitable business, the thought of taking all that profit to first pay taxes and then pay their medical bills was depressing. They restructured their business to take full advantage of all the program benefits and saved nearly $20,000 in taxes!

This program isn’t for everyone. You have to have a legitimate business. If you are a sole proprietor or in a general partnership, you have to be married and able to legitimately employ your spouse. If you own an S-corporation, you may not be able to get the full benefit of the program.

But don’t you owe it to yourself and your family to find out more, and see what you can save? The average tax savings for sole-proprietors along is $2500 PER YEAR.

Just follow this link for all the details: www.FlexAffiliates.com/plan/ebizCFO.

Bill Bourbonnais EA, ebizCFO, LLC


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