The US Tax Code can be pretty rough on the self-employed. The rules and paperwork can be pretty confusing, even with the help of an accountant.

One tax provision is clearly worth the trouble: a Section 105 Medical Reimbursement Plan. You can save, literally, thousands of dollars a year. You must be married and meet some other requirements in order to qualify. The benefits are huge: you can deduct 100% of your family health insurance premiums and uninsured medical and dental expenses — and save a huge chunk in federal, state, and self-employment taxes!

I’ve been very impressed with the BizPlan Section 105 Medical Reimbursement Plan, offered by TASC (Total Administrative Services Corporation). Recommended by a colleague, TASC takes its obligations to customers very seriously, including offering a tax audit guarantee. The annual cost is very reasonable, starting at under $200.

You can’t deduct retroactively, so check out BizPlan today!

Last 5 posts by Terri Zwierzynski

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This entry was posted on Monday, February 18th, 2008 at 8:15 am and is filed under Accounting/Bookkeeping. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.