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BizPlan clients save an average of more than $5,800 a year on their taxes! The key to these savings is the ability to declare medical expenses as a business expense, rather than a personal deduction. BizPlan is a Section 105 Health Reimbursement Arrangement (also known as an HRA) that enables qualified small business owners to deduct federal, state, and self-employment taxes for family medical expenses.
If you are a small business owner and are able to hire your spouse as an employee of your business, BizPlan can help you and your family save thousands of dollars each year.
Beginning January 1, 2020, employers with multiple employees can once again reimburse employees for individual insurance and out-of-pocket medical expenses through the Individual Coverage HRA (ICHRA)—without all of the rules and complexity of its predecessor, the Qualified Small Employer HRA (QSEHRA).
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