Bradford Tax post

 

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One of the wonderful things about writing the Tax Reduction Letter is that I often get really great questions from my many readers. I recently got an extremely interesting email from a couple who told me about their situation. Here's their story . . . They both are 1099 independent contractors They both work for the same company, file their tax returns jointly, and each has their own Schedule C for income and expenses They have no employees The husband is 66. The wife is 60 The reason they wrote me was to ask if they could substantially increase their medical deductions by using a Section 105 medical plan – a plan where one spouse becomes the employer-spouse and the other becomes the employee-spouse.   Specifically, the husband wanted answers to five important questions.   To find out what I had to say, just click on the links below . . . 1.     Do we need a Section 105 for each of our businesses? Read the FREE article. 2.     I am on Medicare. How does that work along with the 105 plan? Read the FREE article. 3.     My wife has a high deductible health plan. Can a Section 105 plan cover her? Read the FREE article. 4.     We have the sample 105 medical reimbursement plan document that you provided with your tax course. Do we need to have the plan (or plans) notarized? Read the FREE article. 5.     Do we need to file the plan (or plans) with any government entity? Read the FREE article. To get started, CLICK HERE. You'll get a no-obligation 7-day FREE trial during which you can read, not only the article I mentioned above, but all of our helpful tax saving tips from the last two months. This trial is absolutely free and there are no strings attached. That's a personal promise.   Sincerely,   W. Murray Bradford, CPA Publisher Tax Reduction Letter   www.bradfordtaxinstitute.com

 

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