Every business owner is looking for a little edge at tax time. After all, being your own boss is supposed to have perks, right? Here’s one that won’t cost you a cent, but could save you thousands of dollars at the end of the year.

 
Answer these two questions:
1. Is your business incorporated?
2. Do you and your family have health and dental related expenses?

 
If you answered YES to both, then you should open a Health Spending Account. Here’s why…
Let’s say you pay yourself an annual income of $75,000 from your business. Let’s also estimate you and your family incur $3,000 in health and dental related expenses in any given year. Due to income tax, you must earn $4477 in income to “take home” the $3,000 required to cover such expenses. So your corporation bears the added expense.

With a Health Spending Account in place, your corporation will simply pay the $3,000 plus an admin fee and taxes for a total of $3639. And you will receive the benefits tax-free. When was the last time someone offered to save you $838/per year and didn’t ask for anything in return? Today is your lucky day!

Let us help you set up a Health Spending Account for your business.