Greg Orcutt

 

Orcutt & Company, CPA

936 State Route 28, Milford, OH 45150

 

Phone:  513-576-1989 

 

Email: greg@orcuttfinancial.com

January 2019

January 2019 Client Profile

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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.


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