Is your business pretax health plan now history?
Effective January 1, 2014, Businesses who DO NOT have a group insurance health plan set up for their business can no longer use a SECTION 125 employee plan for deducting qualified medical insurance premiums and expenses on a pre-tax basis. This doesn't affect dental , vision, or dependent care expenses allowed in a 125 plan.
Are you confident on how to proceed from here? Confusion reigns!
If you want more information, look at Appletree Business Services' Business Financial Confidence Map.Â
If you found this article useful, please do not keep this a secret. Share it with a friend.
Copyright 2014 by Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, a PASBA member accountant, located in Londonderry, New Hampshire, with more than twenty- five years experience on Federal and New Hampshire issues affecting small business, and specializes in keeping his clients OnTrack with bookkeeping, tax, and payroll services for a fixed monthly fee. Learn more about Steve's exclusive SIX Step system developed for small businesses at www.appletreebusiness.com/map.