Article Date:
December 2013


Word Count:
1123

 

 

Creating Year-End Medical and Retirement Plan Tax Deductions


In this article, you will find four medical and two retirement tax-planning strategies for 2013:

 

1.

Reimburse your 2013 Section 105 (HRA) medical expenses now.

2.

Revise your Section 105 plan to comply with the new 2014 law.

3.

Ensure your S corporation health insurance deduction.

4.

Claim the tax credit for the health insurance you give your employees.

5.

Get your 2013 retirement plan deduction set up.

6.

Convert to a Roth IRA.

 

1. Reimburse 105 Expenses Now

 

If you previously put your husband-and-wife Section 105 medical reimbursement plan in place, make sure that the reimbursements take place before midnight on December 31 to qualify the medical reimbursements as business deductions this year.

 

2. Modify Your 105 Plan for 2014

 

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