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| *Loan,banking and credit>>>health insurance |
I have a small company. We will be deducting for health insurance in 2007. Are these deductions made on a pre- |
My company is in Florida. Yes Health insurance should be deducted pre tax. Congrats on the add for insurance! Actually you need to have a Section 125 Plan Document that covers the legalities. When this is in place THEN you can deduct any deductions related to medical or dental care on a pre-tax basis. This would include your health insurance, dental insurance, vision insurance, accident supplemental plan, cancer supplemental plan, etc. If you don't already have a Section 125, ask your broker. If you don't have a broker, talk to your accountant. Good luck! You will need to set up a "Cafeteria plan" or what is more commonly known as a Section 125- then you can deduct on a pre-tax basis. I would also recommend opening up a HRA or HSA plan. Rudy Lehder Rivas President www.HSAInside.com |
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