First, I’ve got to start with my own Public Service Announcement. Two weeks ago, I accidentally discovered that I had dangerously high blood pressure. “Stroke territory,” the Dr. said as she sent me to rest quietly in a darkened room with no travel, no computers, nothing that would aggravate the condition as they worked to slowly bring the blood pressure down. Bring it down too fast, and you risk a stroke. Keep it up there, and you risk irreparable heart damage and/or a stroke.
My doctor told me that hypertension (high blood pressure) is called the silent killer because you often have no symptoms at all. No symptoms, that is, until you suddenly get hit with a stroke.
The good news is that the meds worked, and there was no damage to my heart. If you’re past 35, get your blood pressure checked and continually have it checked on a regular basis. I bought a blood pressure machine, and now anyone who visits our house can check his or her blood pressure too. Okay, maybe I have taken it a little too far...
With all of these medical issues coming up for me, it reminded me of just how important medical coverage is. But providing medical insurance is a real challenge for businesses today, whether they’re large or small. For the self-employed, health insurance can be even tougher. Insurers are increasingly unwilling to provide coverage for people in less than perfect health.
This is one area where C Corporations really shine. That’s because C Corporations have the unique ability to establish Medical Reimbursement Plans for owners and employees instead. And a medical reimbursement plan can be an affordable alternative. I talk about Medical Reimbursement Plans in my book, Loopholes of the Rich. You’ll also find a starter Medical Reimbursement Plan that you can use and adapt for your own corporation’s use.
Did you know that reimbursements under a properly-structured
Medical Reimbursement Plan are tax deductible for the company and tax-free for
the recipients? Go to http://www.TaxLoopholes.com to learn why.
You’d be surprised at what qualifies as a reimbursable medical
expense! Find out at http://www.TaxLoopholes.com.
· The IRS has established some guidelines as to what’s allowed. Visit http://www.TaxLoopholes.com for five great medical reimbursement loopholes.
At TaxLoopholes, we research tax strategies that are legal, moral, ethical and effective! We’re always looking for new ways to get our knowledge out into the public. One way we do this is through Discussions with Diane, a weekly Internet video session where I discuss a topic and answer viewers’ questions.
This week's Discussions with Diane will answer your questions about Basic Loopholes. Go to http://www.dkacpa.com/DWD to learn how you can maximize these loopholes to make more money and pay less tax. Go to http://www.dkacpa.com/DWD right now.
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