Section 105 HRA – The Time is Now to “Fall” Into Tax Savings!

With summer winding down, it is time for farmers to start preparing for the colder months! Growing up on a farm, I always knew that fall had officially arrived when harvest started. Combines and empty fields were signs that fall had begun and farmers were in the midst of their busiest time of year. During harvest, farmers are putting in long hours and late nights to get all their work done in a short amount of time. While most start preparing months in advance, there always seems to be an inevitable cost that comes up. They may have to hire more help or repair equipment; this time of year can be expensive. Luckily, there are ways for the family farmer to save money with creative benefit and tax planning strategies.

BASE® has creative money saving benefit strategies, like the Section 105 HRA. The average BASE® HRA client saves $4,700 each year. This plan allows small business owners the opportunity to deduct up-to 100% of health care costs, including individual insurance premiums and qualified out-of-pocket medical expenses. Using BASE® products will not only allow farmers to save valuable tax dollars, but they also provide peace of mind when concerning IRS, DOL and ERISA rules and regulations.

BASE® is able to help the family farmer yield more of their hard earned money through tax savings. Many family farms have utilized this benefit option and have seen great results. David and Colleen are one example of a self-employed farming team that has seen success by utilizing a Section 105 HRA.

“As a self-employed farming team, a husband and wife can utilize the employer-employee relationship, with qualified documentation of compensation and reimbursement methods, to create additional tax savings each year with the BASE® HRA,” according to Colleen. “With drastically increased health insurance premiums and health care costs, every dollar saved is important.  That is why taking advantage of this benefit is so important, especially when the BASE® HRA allows us to legitimately deduct our health insurance premiums.”

From the guidance offered the very minute they enrolled in the plan to the necessary documentation, they felt everything was very easy to understand.  The best part is when they receive their BASE® HRA Annual Summary Report at the end of each year to provide to their tax preparer, which makes it possible for them to deduct well over the $4,700 in tax savings clients average each year.

 “We highly recommend the Section 105 BASE® HRA to create a means to save on your taxes each year. If you are a self-employed farmer, business owner, or own a small company, BASE® has many HRA options available for you to inquire about.”

BASE® works with tax advisors and insurance professionals across the nation, making sure they are up to date on the latest changes and advising them on products to fit the needs of their clients. The BASE® HRA is a great option for those looking to go beyond the standard deduction, and just one of the many money saving benefit and tax planning strategies available.

No matter the business type, call BASE® to learn more about Section 105 HRAs and other creative benefit strategies during these autumn months and fall into savings.

Selecting a Benefits Administrator – Making the Easy Choice with BASE®

Business owners make difficult decisions every day. Situations come up that you may or may not be prepared for. Every day employers take steps to propel their business forward; inching closer to their overall goals and helping employees reach theirs as well. However, decision making isn’t easy. We all deal with things we do not want to and are forced to make the hard choices. But, not all decisions are made to be difficult, picking BASE® as your benefit administrator is easy and a decision you won’t regret.

I recently read an article about reaching your full potential and how the difference between headwind and tailwind has an effect on our perception of situations. Like riding your bike into the wind, facing challenges we are not prepared for can seem impossible. However, with the right resources and assistance to help face situations that come up, it can be easier. So now instead of riding into the wind, it is like going down a hill with your own expertise and confidence pushing you forward to a solution. This article stresses the importance of being grateful for the wind at your back and recognizing the push it gives you to reach the end goal.

BASE® is the wind at your back. BASE® Business Partners and clients around the country notice the extra strength we put behind our products and services. For example, with our ERISA Wrap, we just don’t hand you the documents and wish you the best, we provide a complete compliance package and guarantee that you stay within the correct regulations. Lisa, an ERISA Wrap client, recently shared, “My experience in setting up a BASE® ERISA Wrap has been incredible. BASE® is courteous and thorough, and their follow up is unlike any other company.”

All of our products work like this because the staff at BASE® works diligently on our customer service, setting us apart from other benefit administrators. When a BASE® HRA client first signs up, they receive the necessary information to walk them through the process of how the product works to ensure understanding and accuracy. Since not everyone is an expert when it comes to tax advantage benefit plans, we take the guesswork out of our products. Alex, an HRA client, states, “The BASE® staff takes a complex plan and makes it simple. The welcome packet, payroll reminder emails and customer service make the whole experience easy to understand. The plan has become part of my monthly routine and entering my expenses is so easy. What you pay BASE® is well worth it in the tax dollars you save.”

People are faced with difficult “headwind” decisions every day, but BASE® isn’t one of them. Selecting BASE® as a benefit administrator is a “tailwind” decision to provide you the push to reach your goals. Contact BASE® today to find out how you could benefit from our products and services!