pre tax

Pre-tax dollars and After-tax dollars. Which is better?

Small Business

Ultimately, there are two kinds of dollars in this world. Pre-tax dollars, and after-tax dollars. Pre-tax dollars are great. And after-tax dollars aren’t bad. But they’re not as good as pre-tax dollars. In fact, you lose every time you spend after-tax dollars . . . that could have been pre-tax dollars. (Huh? What?…) Let’s take a […]

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How to Deduct Medical Costs as Business Expenses

Small Business

It’s not easy to deduct medical costs on your tax return. In fact, unless your medical expenses are 10% os your Adjusted Gross Income, you can’t itemize them on your Form 1040. I explain one tax strategy Here, which many taxpayers can use to pay for out of pocket medical costs with pre-tax dollars. But

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