Tax Planning

Tax-Favorable Charitable Planning


Tax-Favorable Charitable Planning Whether You Are A Grinch, Ebenezer Scrooge… Or Have A Heart Of Gold, Charitable Planning Might Be For You! If you’d like to skip right to the educational video, please click here or on the picture to the right. What many people do not understand is that charitable giving can be client [...]

Tax-Favorable Charitable Planning2018-04-26T20:04:12+00:00

Tax-Deductible Long-Term Care


Tax-Deductible Long-Term Care The IRS Gave You a Break What the federal government did with regard to a business being able to deduct the premiums for LTCI was significant. Under HIPAA (Health Insurance Portability and Accountability Act of 1996), LTCI premiums are treated like health insurance premiums for the self-employed. That means an owner of [...]

Tax-Deductible Long-Term Care2018-04-26T20:02:04+00:00

Creative Health Care Deductions


Creative Health Care Deductions Health Savings Account (HSA) Save Money on Health Insurance Costs While Providing Dental, Eye Care, and More with an HSA Health Savings Accounts (HSAs) are a significantly underutilized tool by health insurance agents when trying to trim health insurance cost for the small employer. What is an HSA? An HSA is [...]

Creative Health Care Deductions2018-04-26T19:56:39+00:00

Section 79 Plans


Section 79 Plans Most people have never heard of what we call in the industry a Section 79 Plan. Why? Because it’s a marginally affective wealth building tool pitched by insurance agents who really do not understand the math behind the plan. If you already have the opinion that we do not like Section 79 [...]

Section 79 Plans2018-04-26T19:55:45+00:00

Closely-Held Insurance Company (CIC)


Closely-Held Insurance Company (CIC) Is Becoming Your Own Insurance Company Right For You? You May Be Surprised! How Many Other Ways Do You Have to Tax-Deduct Up to $1.2 MILLION Dollars Pre-Tax into a Tax-Favorable Entity You own? Can owning your own Closely-held Insurance Company (”CIC” — also known as Captive Insurance Company) can provide [...]

Closely-Held Insurance Company (CIC)2018-04-26T19:47:46+00:00

401(h) Plans


401(h) Plans Tax Deductible, Tax Sheltered, and Tax Free Payouts What is a 401(h) plan? It’s a medical expense account under Code Section 401(h). The plan pays for costs associated with sickness, accident, hospitalization, and medical expenses of retired employees (EEs) (and their spouses and dependents). One of the largest expenses of retirees is their [...]

401(h) Plans2018-04-26T19:46:51+00:00

Cash Balance Plans


Cash Balance Plans Cash Balance Plans CBPs are a special kind of Defined Benefit Plan. In short, you get all the benefits of a Defined Benefit Plan or 412(e)3 Defined Benefit Plan, except with CBPs, you have much more flexibility (traditional DB and 412(e)3 plans can be somewhat inflexible and difficult to understand). In a [...]

Cash Balance Plans2018-04-26T19:45:31+00:00

412(e)3 Defined Benefit Plans


412(e)3 Defined Benefit Plans A New Twist On An Old Friend A 412(e)3 Plan is a special type of Defined Benefit Plan. This plan works almost exactly the same way as the typical Defined Benefit Plan, except for one important twist. The benefit in retirement is Guaranteed! That’s right. If you construct a 412(e)3 Plan [...]

412(e)3 Defined Benefit Plans2018-04-26T19:44:09+00:00

Defined Benefit Plans


Defined Benefit Plans Use Them for Large Tax-Deductible Contributions Most people think of Defined Benefit plans as old-school plans that no one uses anymore. Because of a relatively recent tax law change, these plans are back and may just be what you are looking for to build your wealth for retirement.. Unlike (Defined Contribution Plans [...]

Defined Benefit Plans2018-04-26T19:43:14+00:00

Profit Sharing Plans


Profit Sharing Plans The bread and butter income tax deferral tool for many small business owners is the profit sharing plan. A Profit Sharing Plan is a qualified retirement plan where the annual contribution limits are 25% of pay or $53,000 in 2015 and $53,000 in 2016. A combined 401(k)/Profit Sharing Plan allows an employee/owner [...]

Profit Sharing Plans2018-04-26T19:42:12+00:00
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