When enacted, the Affordable Care Act (ACA) eliminated most small business health plans that reimbursed individually purchased health insurance. Consequently, many small business owners chose health savings accounts (HSAs) or opted to provide no health coverage at all.
When dealing with corporate advances, make sure there is paperwork differentiating whether it is a loan, dividend, or salary to the owner. If you operate your business as a C or an S corporation, and if you loan money to … Read More
The distinction between repair expenses and improvement costs can impact your tax benefits. it is important to know the difference between the tax benefits you can receive. You can make repairs to your business building, or make improvements (classified as … Read More
As a small employer (fewer than 50 employees), you should consider the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA health plan) as a good way to help your employees with their medical expenses.