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Friday, February 24, 2012

Save Your Tax Dollars

“I reduced my taxable income by $5000 last year!”

If you own a professional or family corporation or are self-employed and pay taxes, this is what you will be saying this time next year. With a Private Health Services Plan (Corporate Care) you can deduct your personal and family medical expenses through your business.

100% of your medical expenses are deducted.

This includes all dental work, including orthodontics, contact lenses, eye laser surgery, prescription drugs, massage therapy, physiotherapy, chiropractic services and the list goes on.

Many businesses owners have spouses who have a health and dental benefit plan where they work.

Good News!  You can deduct the spouse’s monthly premium payments through Corporate Care. Plus you can deduct anything that was not covered by the spouse’s plan or any deductibles that had to be paid.

 

·        Reduce your taxable income

 

·        Increase your disposable income

 

Don’t miss out on this unique opportunity.  With no sign up fees or set up fees, there is nothing to lose.

The process is designed with the business owner in mind. The Sign up form is a simple one page form found on our website under Getting Started.  Then once a year or more often if you wish, you submit your medical receipts to Corporate Care for adjudication by CGAs.  As simple as that, you have turned medical expenses into tax savings.  For the average business owner, your savings cover the cost of a trip down south.

The way we do business has changed significantly since 2008.  We’ve had to run tighter ships and work longer hours.  However, Corporate Care is the way to do health and dental benefits today and in the future. It’s an easy way to save money.

“I reduced my taxable income by $5000 last year!”

 

This will be the cocktail party talk of the future – be the first of your group to use the line.

 

 

 

 

 

Posted by Margaret Koniuck at 3:51 PM 0 Comments

Friday, February 17, 2012

It’s NEVER TOO LATE to submit those 2011 medical expenses!

If you haven’t done so already, collect up your 2011 medical receipts and send them in.  Think of it as mining for gold.  Each receipt represents a little extra cash in your pocket.  Make sure you have included the following:

 

·        Massage therapy receipts

 

·        All dental bills

 

·        Any premiums paid by your spouse at an outside employment

 

·        Travel insurance premiums

 

·        All vision care bills

 

These are just some of the medical expenses that qualify as a business expense with your Corporate Care benefits.  Here’s a full list: http://www.e-benefits.ca/how-does-it-work/qualified-expenses.cfm

And remember:  There are NO LIMITS.*

HINT: If you are mining for receipts for 2011, here’s a tip for 2012.  Set up a shoe box or a file folder where you can easily drop in any medical receipt as you get it over the year.  Keep a place at home and a place at work.  It’s easier than trying to remember to bring your receipts home from work or vice versa.

 If you have a question about whether something qualifies, please call us, email us or use the “Ask a question” section of the web-site: http://www.e-benefits.ca/ask-a-question.cfm  We’re always being asked questions about what may qualify as a medical expense and we’re happy to discuss anything with you.  Often questions are sensitive or confidential in nature.  We respect your privacy and have over ten years of experience with handling all sorts of questions.

 

*Businesses that are not incorporated have some limitations.  Call us at 204-940-5461 for more details.

 

Posted by Margaret Koniuck at 4:46 PM 0 Comments