Hi, I'm Joseph.
What in the world do the new 2013 tax changes mean to you? Let us help!
MERP - BizPlan
BizPlan is a medical pre-tax plan established specifically for
self-employed individuals. BizPlan is not insurance; rather, it is the
benefit vehicle that allows self-employed individuals to pay for their
medical expenses with pre-taxed dollars and turn 100% of their medical
expenses into a full tax deduction for their business.
This plan is ideal for business professionals who file as a
corporation; they are able to offer this pre-tax medical benefit to
themselves. If you are a sole-proprietor or an LLC and your spouse
assists with the business, you would provide this benefit to your
employed spouse (this is necessary because BizPlan is considered an
?employee benefit?). Besides allowing 100% of your family?s medical
premiums and expenses to be paid for with pre-tax dollars, the benefit
is also a full tax deduction for your business.