Offering : A PHSP makes sense!

Posted on October 19, 2014 11:35 pm

Details:

What is a PHSP? A Private Health Services Plan allows you to expense your medical and dental costs (for you and your employees) through your company.Did you know that there are only 3 ways to pay for health care expenses?1. Paying from your personal bank account (paying out of pocket)2. Traditional insurance with monthly premiums3. Your company paying these expenses by using a Private Health Services PlanWe can't help you with #1, but we can definitely help with #2 & #3!If you have an incorporated business, limited company or sole proprietorship you qualify. The size of your business does not matter. You could be the only employee or you could have numerous employees.If you are a sole proprietor; to qualify for this deduction you must meet one of the following parameters:1. Your net income from the business in which you are regularly and actively engaged must represent at least 50% of your net income for the year.2. Your net income from sources other than business does not exceed $10,000What are you waiting for? Stop Paying and Start Saving Today!Joe Grill - Your "In" GuyInsurance - Income Tax - InvestmentsExperienced trusted professional and proud to serve the self-employed and the small business owners of Alberta, in person and online.

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