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TASC Tax Saving Programs

MASEA would like to announce a new affinity partnership with TASC. TASC is an administrator who can be a great resource to our membership, helping our small business clients with Medical Expense Reimbursement programs, the NEW Small Business HRA and Flex or Cafeteria Plans. Gene Hamilton from TASC is our representative and his contact information and a brief overview of their services is below.

TASC Tax Saving Programs for Small Businesses

Medical/Healthcare Reimbursement program (IRS Section 105 HRA)

  • For Married Sole Proprietors with 1 Employee  (Spouse) S & C Corporations-1 employee (can be the owner), ideal for our Section 105 HRA (BizPlan-AgriPlan)
  • 2 or more, all Family only employees (No Limit Plan)
  • Average tax savings $5500 a year, we make it easy with our debit cards and year end reports
  • TASC puts the Plan document in place that is required by the IRS and its Audit Guaranteed
  • S Corps-can do this and if they have large deductibles and expect high Out of Pocket expenses it makes sense, they’ll save the FICA of 15.3% on OOP’s, tax saving beyond the plan fee with $3000 or more in of Out of Pocket health related expenses; Sole Prop or Single Member LLC’s and C-corps see their full tax rate savings (20%-45%)
  • TASC BizPlan/AgriPlan $475 per calendar year

Attached below is a 3 minute webinar link about our IRS Section 105 Medical/Healthcare Reimbursement program for those self-employed clients (Married Sole Proprietor Schedule C’s or F’s, LLC’s and One employee S and C Corporations).  All plans come with a plan document (Audit Guaranteed by TASC) which is required by the IRS to utilize this deduction. Thank you.

Click here to view a short presentation on BizPlanNOW
PLEASE NOTE the webinar may start to play after you click the link, don’t click on the NEXT tab until the 3 minute webinar has finished and you are instructed. Thank you.

SBHRA (the NEW Small Business HRA)

  • An employer (2-49) can offer an HRA to reimburse their employees for their Individual Health Insurance Premiums and out of pocket expenses (limits $4950 single, $10000 family)
  • These amounts can be dedicated towards all premiums, all the OOP or a combination of premium and out of pocket expenses up to the annual limits or a lessor amount set by employer
  • 2017 the employer must adopt a compliant written non-discriminatory plan (ie TASC SBHRA)
  • The plan docs from TASC also provide all of the necessary compliance provisions and appropriate notices required by the DOL
  • The TASC SBHRA plan is Audit Guaranteed by TASC
  • The TASC SBHRA annual fee is $475 plus $90 for each additional participating employee

Flex Plans and Compliance

  • TASC Flex Plans for companies with 1 or more employees and Group Health Insurance benefits
  • TASC Micro Compliance Suite, ERISA, HIPAA and ACA notices
  • Flex 1-5 participants $600, 6-12 participants $900, 13-20 participants $1200 Full Administration (per 12 month plan; no other fees). Micro Compliance fees upon request. Both Audit Guaranteed


Gene Hamilton

TASC Regional Director-Northeast

gene.hamilton@tasconline.com

800-422-4661 x8845

401-327-0166 cell

Kelly Nesbit

Microbusiness Specialist

Total Administrative Services Corporation (TASC)

e:  Kelly.Nesbit@tasconline.com

w:  www.tasconline.com

p:  800-422-4661 x4968

d:  608-237-4968

f:   608-661-9609 fax