August 25th, 2020 → 10:24 pm @ Tess // No Comments
Every good business knows that a healthy employee is a productive employee. What if you could provide your employees with a customized health benefits plan that keeps you and them healthy and your company financially fit with tax savings at the same time?
If you are an incorporated business with two or more employees, forget about paying into a traditional health benefits plan. You should be establishing a health and welfare trust instead.
A health and welfare trust is an alternative health coverage benefits plan that is specific to both your company and employee needs and sanctioned by the Canada Revenue Agency whereby you can pay less for healthcare coverage and write off 100 percent of healthcare costs as a business expense. There is no deduction and you’ll use before tax dollars. Think of it as an innovation self-insurance model that provides business owners more control over health planning than typically going through “one-size-fits-all” traditional group insurance plans.
Watch the video below to learn more about how to establish a Health and Welfare Trust in your business and what other benefits you can expect by doing so on top of substantial tax savings.
Disclaimer: The material and/or information provided in this blog document and video are for informational and/or educational purposes only. The opinions and views expressed in this blog document and video are solely those of the author and not necessarily those of the distributor, and do not constitute financial or taxation advise in any way. All financial endeavors should be vetted through a financial, tax, or another appropriate professional; example, life insurance broker, financial planner, accountant, and/or lawyer, as the audience sees fit. MacDev Financial Group Corp. and SET Financial Solution and any other corporation associated with the author, including but not limited to its agents, staff, associates and/or partners, will not assume any liability for any information disseminated in this blog document and video; indirectly, or assumed.
The post A Tax-Strategy That Is Healthy For Your Business appeared first on MacDev Financial.
Tags: CPA, Financial Advice, retirement advice, retirement information, Tax Advice, Tax Information, Tax Tips
August 25th, 2020 → 10:24 pm @ Tess // No Comments
Every good business knows that a healthy employee is a productive employee. What if you could provide your employees with a customized health benefits plan that keeps you and them healthy and your company financially fit with tax savings at the same time?
If you are an incorporated business with two or more employees, forget about paying into a traditional health benefits plan. You should be establishing a health and welfare trust instead.
A health and welfare trust is an alternative health coverage benefits plan that is specific to both your company and employee needs and sanctioned by the Canada Revenue Agency whereby you can pay less for healthcare coverage and write off 100 percent of healthcare costs as a business expense. There is no deduction and you’ll use before tax dollars. Think of it as an innovation self-insurance model that provides business owners more control over health planning than typically going through “one-size-fits-all” traditional group insurance plans.
Watch the video below to learn more about how to establish a Health and Welfare Trust in your business and what other benefits you can expect by doing so on top of substantial tax savings.
Disclaimer: The material and/or information provided in this blog document and video are for informational and/or educational purposes only. The opinions and views expressed in this blog document and video are solely those of the author and not necessarily those of the distributor, and do not constitute financial or taxation advise in any way. All financial endeavors should be vetted through a financial, tax, or another appropriate professional; example, life insurance broker, financial planner, accountant, and/or lawyer, as the audience sees fit. MacDev Financial Group Corp. and SET Financial Solution and any other corporation associated with the author, including but not limited to its agents, staff, associates and/or partners, will not assume any liability for any information disseminated in this blog document and video; indirectly, or assumed.
The post A Tax-Strategy That Is Healthy For Your Business appeared first on MacDev Financial.
Tags: CPA, Financial Advice, retirement advice, retirement information, Tax Advice, Tax Information, Tax Tips
