Friday, February 26, 2010
Do you make time to save your business money?
|
As a Benefit Specialist at Base® I have the opportunity to talk with business owners from every walk of life, from truck drivers and farmers to the young entrepreneur with the latest technology to sell. There are a few things consistently mentioned by all; they have no time to spare and need to save every dollar they can. Unfortunately some do not have the time to stop and learn new ways to save their businesses money!
It generally takes 10-15 minutes for me to be able to qualify a business to use a HRA. I also calculate their tax savings, which averages at $3,800 each year. Think about what a business could do with that extra money each year? What is 10 minutes out of your day when it can save you thousands? In these times we are living in, where our struggling economy is swallowing businesses whole, it pays to find the time in your day to talk about how to better deduct your healthcare expenses. Sacrifice a few minutes out of your lunch, while you walk your dog, or between clients. We know your time is money, so when you talk to us we'll pay you back and then some with the HRA deduction reducing your taxes by thousands each year.
I talked to a gentleman recently who pays $1600 per month for his family's health insurance. By enrolling in a HRA, he will save $600 each month! When we figure in his family's non-insured expenses also, his savings will be over $8000 this year! What could your business do with an extra $8000 this year? Without the deduction, this client informed me that his family would go without health insurance and his business wouldn't survive another year.
Unfortunately, more and more people in our country are making the tough choice to go without insurance. By administering an HRA for my clients I know I'm making a difference and helping their business grow rather than fail. I go home each night knowing that what I do will help families keep food on the table and makes their climbing insurance premiums more affordable. I am very passionate about helping the new and longtime business owner take the time to realize they have options to keep much more of their hard earned money in their pocket, where it belongs.
I hope that after you have taken the time read this, you will also think about how you can make difference too. Take the time to talk with other business owners you know and ask what they are doing to contain their healthcare costs. If they tell you they let their CPA handle it, do them a favor and have them give us a call. It will be worth their time, if they will take it!
Emily Reynolds
Benefit Specialist
|