BizPlan, AgriPlan and FlexSystemTeresa Huber2017-06-14T23:36:49-04:00
BizPlan, AgriPlan and FlexPlan
AgriPlan (for farmers) and BizPlan are medical reimbursement programs that enable qualified small business owners to deduct family medical costs, and on average save $4,000 or more a year on federal, FICA and state taxes.
They are legal plans that allow small business owners to take advantage of the same tax breaks as the big companies. Key to these savings is the ability to declare medical expenses as a business expense rather than a personal deduction.
FlexSystem is an IRS Code Section 125 Cafeteria Plan that enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the employee! For you? Benefits costs are controlled without restricting choices, and you pay less in Social Security tax for every dollar of employee participation. (FLEXIBLE SPENDING PLAN)