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Health Spending Accounts

Posted by on in Health Spending Accounts

If you are a business owner you should think about opening a health spending account.

 

If your business is incorporated and you pay yourself a T4 income you can deduct dental, medical and prescription drug expenses as a business expense by setting up a Health Spending Account. Not only are the expenses a deductible business expense but the benefit is tax-free.

 

You, your dependents or other employees do not pay any tax on the benefits paid by the company – it’s a win-win!

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  • Bookkeeper Toronto
    Bookkeeper Toronto says #
    Nice Post.. Excellent Info.. Really amazing.. This was a fantastic article...

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