As a small business owner, you are able to take advantage of tax-free owner benefits. These benefits are paid out of pre-tax dollars. This means that there are more of these dollars to spend, since no tax has been paid on these dollars. This allows you, and your family, to enjoy benefits that are paid by your business, and that are also tax deductible to the business, the best of both worlds.

Listed below are some of the more important tax-free owner benefits that you can enjoy as a small business owner:

1. Adoption benefits (up to $10,160 per adoption)
2. Athletic Facilities (gyms, pools, golf courses, etc.)
3. Child or dependent care plans (up to a limit of $5,000 per married couple)
4. Tax credit for employer-provided child care
5. Education plans (up to a $5,250 exclusion on employer-financed undergraduate courses)
6. Group term life insurance (up to $50,000 in coverage)
7. Deduct 100% of the Health insurance premiums of self-employed individuals'
8. Long-term care coverage
9. Health Savings Accounts (tax deductible self-insured personal health insurance coverage)
10. Company Cars

Click Here for assistance in implementing this "Tax Tip" (as well as other small business tax saving strategies)