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Article Date:
January 2014


Word Count:
857

 

 

Does Your Section 105 Plan (HRA) Work for You after Obamacare?


The Section 105 plan, a health reimbursement account (HRA), creates outstanding tax benefits for certain one-owner businesses.

 

To see if you or your business qualifies for these “outstanding” tax benefits, review the flowchart below.

 

 

Before getting to the elements in the flowchart, let’s review the benefits of the 105 HRA.

 

Benefits

 

The Section 105 plan turns your medical expenses into business deductions. A business medical tax deduction is far superior to a personal medical deduction because a business medical deduction

 

1.

reduces self-employment taxes for the Schedule C taxpayer (proprietorship and ... Log in to view full article.

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