- The government now allows the reimbursement of health insurance premiums for small business owners (50 FTE or less), which was taken away about a year and a half ago.
- There are many questions people have: “What is Trump going to do? What is going to get repealed? What is going to get added? What is going to get changed?”
- One of the big discussions is that many companies used a little loophole to get around the previous removal issues and just increased their employees’ pay.
Hello, everyone. It’s Shauna, the Tax Goddess.
Today, we are really targeting small businesses, so 50 employees or less. The government has actually, once again, allowed the reimbursement of health insurance premiums; that was taken away about a year and a half ago. They were charging a $100 per day, per person penalty if a small business, under 50 employees, was reimbursing health insurance for its companies employees.
I’m so happy to hear about this awesome change. If you meet that 50 FTE or less, you can go back to reimbursing for health insurance. One of the big discussions is that many companies used a little loophole to get around the previous removal issues and just increased their employees’ pay. Of course, going back to your employees now and saying, “Well, now we’re allowed to reimburse your health insurance so we’re going to reduce your salaries.” Eh, maybe not going to work. It’ll be really interesting to know … I would love some feedback from everyone out there. If you’re a small business, are you going to go back into reimbursing for the health insurance, reduce salaries, etc. What are you guys really going to do?
There are many questions people have: “What is Trump going to do? What is going to get repealed? What is going to get added? What is going to get changed?” What I can tell you right now is, as soon as we know something for sure, meaning it’s been put into action or put into law, we will absolutely film videos for you guys and let you know what’s going on.
As usual, if you guys have any questions, reach out to us at TaxGoddess.com. Make sure you download our 10 Ways E-book; that is 10 Ways to Save 10 Grand Right Now. We’ll make sure the link is also below. As usual, don’t hesitate to reach out to me, Shauna, your Tax Goddess. I love doing these videos for you guys every week. I’ll talk to you later. Thanks.
