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Daycare and Taxes>105 Biz Plan. Help Tom!!
jojosmommy 03:28 PM 01-18-2012
We are not eligible for med benefits through an employer. Which is smarter the 105 biz plan or deducting our premiums through the business without the biz plan? Does it end up the same? If you do not do the biz plan can you deduct the extra costs like amounts paid to the hospital and dentist on your business side or only the personal part of taxes? Does this change how much you save in the end? My husband has not in the past been compensated for working here and helping out b/c of the tax issues but I understand it needs to be a reasonable amount. What in this industry is reasonable and can you not just fund/reimburse their med expenses totally or is that too much to be considered reasonable?

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Tags:business plan, deduction - medical
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