Health Reimbursement Arrangements

Hiring family members can offer tax advantages (but be careful)

Employees, Employment Records, HRA, Small Business, Small Business Owners, Small Business Tax Tips, Sole Proprietors, Summer Employees / Douglas Freeman

Summertime can mean hiring time for many types of businesses. With legions of working-age kids and college students out of school, and some spouses of business owners looking for part-time or seasonal work, companies may have a much deeper hiring pool to dive into this time of year. If you’re considering hiring your children or […]

Hiring family members can offer tax advantages (but be careful) Read More »

Some business owners can’t participate in their own companies’ HRAs

C Corporations, Employee Benefits, High Deductable Health Plan, HRA, HSA, Partnerships, S Corporation, Self Employed, Small Business, Sole Proprietors / Douglas Freeman

Many companies now offer Health Reimbursement Arrangements (HRAs) in conjunction with high-deductible health plans (HDHPs). HRAs offer some advantages over the perhaps better-known HDHP companion account, the Health Savings Account (HSA). If you’re considering adding an HRA, you might assume that, as a business owner, you can participate in the HRA. But this may not

Some business owners can’t participate in their own companies’ HRAs Read More »