Jenkins, Magnus, Volk, Carroll, P.C.

Certified Public Accountants


42714 Woodward Avenue  Bloomfield Hills, MI 48304


Phone: 248-858-2400

Fax:     248-858-7301 



January 2019

January 2019 Client Profile

Article Image

Melissa runs a home kitchen-based business making fruit preserves and other sweets, selling them online and via mail order. She has no employees yet, but wonders about other types of insurance coverage her business might need.

Melissa should start with health insurance and a retirement account, two benefits she can buy for herself even if she doesn’t have other employees.
She might explore a high-deductible health insurance policy and pair it with a triple tax-free Health Savings Account (HSA). She can also contribute to a Simplified Employee Pension (SEP) or 401(k) plan, which offer tax-deferred growth.

Depending on her business structure, Melissa could deduct a variety of benefits’ costs, from company-paid premiums to administrative expenses. Other risks may include product liability and cyberthreats, from which insurance can protect her financially.

Melissa can learn more about leveraging business dollars to purchase employee benefits and insurance by talking with her tax and insurance professionals.

Client Profile is based on a hypothetical situation. The solutions discussed here may or may not be appropriate for you.


Enter your Name and Email address to get
the newsletter delivered to your inbox every month.


Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.