Author: hafiz 2012

Posted in Business

A Guide to Tax-Advantaged S Corp Health Insurance Deductions



Wooden cubes stacking of healthcare medicine and hospital icons on table


© Getty Images
Wooden cubes stacking of healthcare medicine and hospital icons on table

As you decide on your business structure, you’re probably considering each type’s legal and financial protections. It’s unlikely you’re thinking about the tax implications of your healthcare costs. That’s where the S corporation business tax structure can surprise many business owners.

Business owners start corporations to insulate themselves from their company’s debts. Some corporations can elect S corporation taxation to avoid the double taxation that comes with traditional C corporations.

S corporations further advantage owners involved in management because they can pay themselves in dividends after a reasonable salary. Dividends are subject to federal and state income tax but not payroll taxes.

But the S corporation waters muddy when it comes to providing owners with health insurance benefits. Follow our guide to achieve the maximum tax advantage for S corporation owners’ health insurance.

How do health

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Posted in Finance

Business owners and politicians call for financial support for Melbourne’s businesses

Sacha Koffman, co-founder of startup Build Labour. Source: supplied.

Daniel Andrews’ extension of metropolitan Melbourne’s stage four lockdown, and the reopening roadmap unveiled last weekend, mean many businesses won’t be able to trade as normal until the end of November.

And that’s in a best-case scenario.

Since Sunday’s announcement, there have been more and more calls to extend the financial support available to affected businesses, including doubling the grant funding available and relaxing eligibility criteria to support those that have fallen through the cracks.

This morning, Andrews said the state government will reveal plans for additional support for affected businesses “very soon”, saying it is receiving input from business advocates.

“We’re giving business an opportunity to provide direct input to the government about the support that they need,” he said.

The announcement itself will be “very substantial”, the Premier promised.

“There is substantial business support that we’ve provided already, and

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Posted in Insurance

Rising Health Issues Worldwide Driving Demand for Health Insurance Market to Grow $4.47 Trillion, Globally, at 4.4% CAGR

Pune, Maharashtra, India, September 9 2020 (Wiredrelease) Allied Analytics :Increase in healthcare expenses, mandatory provision of healthcare insurance for public and private sectors, and rise in prevalence of chronic diseases have boosted the growth of the global health insurance market. However, stringent regulation and longer time for claim reimbursement and dearth of awareness of healthcare insurance in rural region hamper the market. On the contrary, innovation in healthcare insurance products is expected to create lucrative opportunities in the near future.

According to the report, the global health insurance industry was pegged at $3.15 trillion in 2018 and is projected to reach $4.47 trillion by 2026, registering a CAGR of 4.4% during the forecast period.

Download Free Sample Report: https://www.alliedmarketresearch.com/request-sample/4338

Public service providers segment dominated the market

The public service providers segment held the largest share in 2018, accounting for more than half of the global health insurance market, as these

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Posted in Money

Editorial: The Postal Service must be saved, and it can be | Editorial

The U.S. Postal Service is essential to save.

By law, it is required to deliver mail across the United States. It serves more than 157 million addresses, adding about a million per year. That is a public good that no private delivery service would ever try to match. In fact, many delivery businesses, including Amazon, use the U.S. mail for the final leg of delivery, a task that is profitable for the Postal Service.

The USPS delivers prescription medications, bills, marketing materials, publications and, in the news these days, absentee ballot applications and actual ballots. Most invoices, checks and personal mail go first class. While this traditional snail-mail use has dropped in the digital age, nearly 55 billion items were sent first class last year, accounting for a third of postal revenue.

Marketing materials account for nearly a quarter of postal revenue. If delivery becomes unreliable — say a flyer

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Posted in Money

Routable Raises $12M For Digital B2B Services

Routable, which aims to simplify the sending and receiving of B2B payments, has come off a Series A funding round with $12 million, a press release says.

That comes out to $16 million that the company has raised overall.

The round featured contributions from Y Combinator, Founders Co-Op, Lee Fixel, Box Group, as well as Liquid 2 Ventures, Jason Gardner, Gokul Rajaram, Aaron Schildkrout, Sam Hodges, Immad Akhund and more, the press release says.

The company plans to use the money to continue growing, including hiring more people and scaling the product.

Routable co-founder and chief executive Omri Mor said the idea behind Routable was to accommodate different companies’ needs for payments.

“Sending 1,000 business payments per month is a much different proposition than sending 10,000 or 100,000 monthly payments,” said Mor. “We believe finance departments deserve the best software and support as

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Posted in Finance

Financial Reporting and the Definition of Advisory

For decades, accountants and bookkeepers have been urged to shift their services from focusing on compliance to prioritizing services that are advisory. Why?

The logic is simple: Compliance services are vulnerable to automation and are seen as having less value than forward-looking advice that can have a positive impact on the bottom line.

But the term “advisory” encompasses MANY different activities, from relatively simple cash flow forecasting to much more complex business restructuring (and a whole lot in between). This lack of a clear definition has been a barrier to many firm leaders who struggle to understand what exactly they are being urged to do.

This landmark guide by Randy Johnston of K2 Enterprises breaks down the different modes of advisory activities and explains what each one entails on a practical level. It also includes a detailed overview of the available technology that firms can use to deliver different types

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Posted in Money

Why are colleges bringing back students despite near-certainty of COVID-19 outbreaks? Money plays a big part – News – The Columbus Dispatch

For months, universities and experts have warned another semester of remote courses could have disastrous effects on student enrollment and college budgets.

Colleges that are reopening campuses this fall know they’re bringing a higher risk of coronavirus to their community.

The questions aren’t really about if or when, but about how bad outbreaks could be — and whether having an in-person experience for students is worth the cost. With so much at stake, some students, parents and faculty are asking: Why take the risk at all?

In many cases, it comes back to money.

For months, colleges and experts have warned another semester of remote courses could have disastrous effects on student enrollment and college budgets.

Colleges already lost billions of dollars when they pivoted to digital instruction in the spring, in the form of refunded room-and-board payments and expensive technology for online courses. Another semester — or year —

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Posted in Personal

Social Security announces new online service for replacement Social Security cards in Alabama

Kylle’ D. McKinney, Special to the Advertiser
Published 9:05 a.m. CT Aug. 28, 2020 | Updated 9:05 a.m. CT Aug. 28, 2020

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The Social Security Administration introduced the expansion of online services for residents of Alabama available through its my Social Security portal at www.socialsecurity.gov/myaccount. Andrew Saul, Commissioner of Social Security, announced that residents of Alabama can use the portal for many replacement Social Security number (SSN) card requests. This will allow people to replace their SSN card from the comfort of their home or office.

“We are here to serve the public and this option helps us improve service by offering a safe, secure, and more convenient choice for doing business with us online,” Saul said. “I am pleased to offer Alabama residents the added convenience of replacing a Social Security card through the my Social Security portal.” 

The agency is conducting a

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Posted in Insurance

Activation of Florida National Guard creates health care insurance crisis for family

RIVERVIEW, Fla. (WFLA) — When the Florida National Guard activated and deployed her husband’s unit – the 164th Air Defense Artillery Brigade – medical insurance for Holly Fuentes and her 6 children was supposed to seamlessly transfer from her TriCare Reserve Select plan to a TriCare plan for active-duty personnel.

The 164th was activated on Aug. 14, 2020.

“As of Aug. 14, we have no health insurance coverage and we have 6 kids, the newest being 8 weeks old,” Holly told 8 On Your Side.

Holly, who lives in Riverview, was forced to cancel several doctors’ appointments and let a $600 per month prescription for her son go unfilled.

“The most pressing is our 8 week old needs to see a G.I. specialist and I can’t have that done because of the insurance,” she said.

When her husband’s Natl Guard unit was activated, Holly and her family were left without
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Posted in Personal

Riskalyze Fintech Report Card: August 2020

Asset-Map Brings Industry Leaders Together (Virtually)

thumbs up What Happened: Asset-Map hosted AdviceTech.LIVE, a one-day digital conference designed around helping advisors see how technology solutions can work together in their businesses.

Why It Matters: I had a great time participating in this one. Asset-Map’s one-day digital event gave advisors, who are relying on technology more than ever because of mandated remote work, a chance to catch up on what’s new and what’s coming up in advisor tech. And let’s not forget the bigger picture—half of all ticket sales benefited CFP Board diversity initiatives. Well done, Adam and team.

Apex Clearing Hires Tricia Rothschild as President

thumbs up What Happened: Former Morningstar executive Tricia Rothschild joined Apex Clearing as its new president. Tom Valverde also joined Apex as general manager of its advisory division.

Why It Matters: People ask me all the time: “Are you concerned about consolidation in the industry?” Every time the merger

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