Tax Saving Madness – BASE® HRA
This time of year, people are focused on one thing: March Madness. Millions of brackets are being filled out and teams are preparing for the biggest moment of the year. Now that games have started, teams are pulling off the biggest upsets and anything is possible.
While all of this is happening, BASE® employees are preparing for another big moment – tax time! We are helping small business owners save thousands of dollars in taxes. The average client saves $4,700 in taxes annually. The Section 105 BASE® HRA allows for small business owners to deduct up to 100% of their family’s qualifying medical expenses and individual health insurance premiums as a business deduction.
Just like the coaches are getting ready for each game, the BASE® staff is always working with clients to develop a winning benefit strategy to help clients save tax dollars. Alex M., a BASE® HRA client since 2015, talks about his success with tax savings within the BASE® HRA.
“As a small business owner, taking advantage of the HRA would be hard without BASE®. 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,” he said.
Not only are small business owners saving thousands of dollars and reducing the overall financial impact of health care expenses, but they also have the ongoing support from the BASE® staff. Judy H., a BASE® HRA client, talks about what it is like to work with BASE®. “The BASE® staff checks on me regularly, and they are always available to assist me with various tax documents that I’ve received. They have been complete rock stars, and I have already referred a few other realtors from my office that can benefit too,” she says.
This year, March Madness has already brought us history making games, amazing upsets, and winning teams! BASE® is fortunate to work with winners all year round who are saving valuable tax dollars that they are able to put right back into their business. Call 1-888-386-9680 to learn more about BASE®’s winning benefit strategies!