Ostroff, Fair and Company
*Ostroff, Fair and Company>>>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
Tags
Personal Finance Investing Insurance Credit Corporations
Related information
  • If you receive a lump some from social security disablitiy do you have to pay the long term disablity ins back
  • I am an adult male married w/ 2 children, where can I get the best health insurance for my family at the best?
  • I received a check for 12,000.00 from my insurance from surgery.?
  • Can you collect insurance money if another vehicle hits your car and you still owe money on your vehicle?
  • Define risk management (auto insurance)?
  • Borrowing money from Whole Life Policy ?
  • Can a company legally refuse to cancel your medical plan when you want it cancelled?
  • Boob job, can you get insurance incase something goes wrong?
    • 　

    Finance Categories--Copyright/IP Policy--Contact Webmaster