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Sec 105 Medical Plans to take deduction on Sch C

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    Sec 105 Medical Plans to take deduction on Sch C

    Does anyone have any input on Sec 105 Medical plans so a self-employed taxpayer can deduct Medical expenses on their Sch C. The self empoloyed person's wife is willing to clean the office every weekend to go on the payroll, which would then make the plan valid. Any thoughts or good experiences with this type of plan?

    #2
    Sec 105

    Originally posted by John of PA View Post
    Does anyone have any input on Sec 105 Medical plans so a self-employed taxpayer can deduct Medical expenses on their Sch C. The self empoloyed person's wife is willing to clean the office every weekend to go on the payroll, which would then make the plan valid. Any thoughts or good experiences with this type of plan?
    Looks like a good spot for some info.
    Learn how small businesses write-off all medical expenses and insurance premiums with a Section 105 One-Person HRA Plan by Core Documents.
    Confucius say:
    He who sits on tack is better off.

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      #3
      I'll add to his response

      Originally posted by John of PA View Post
      Does anyone have any input on Sec 105 Medical plans so a self-employed taxpayer can deduct Medical expenses on their Sch C. The self empoloyed person's wife is willing to clean the office every weekend to go on the payroll, which would then make the plan valid. Any thoughts or good experiences with this type of plan?
      I have had success with a company called Bizplan. You can become an affiliate and earn commissions on the plans you sell through them. Also, every year if the client renews the plan, you receive a residual check. I haven't checked out Lyman's recommendation but it may be very similar.

      HRA, Health Reimbursement Arrangement, Section 105, QSEHRA, small business, tax savings, medical expenses, qualified small employer hra, employee benefits, BizPlan, trucker, real estate agent, non-profit, tax deduction, audit guarantee, TASC, TASC Card, sole proprietor, small business HRA, The Cures Act, employer-sponsored benefits, business deduction


      This company can even provide guidance as to what may or may not fly with the IRS concerning the spouse's wages/duties etc. Good luck!
      Circular 230 Disclosure:

      Don't even think about using the information in this message!

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        #4
        Thank You Davien, I'll check it out.

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