You have a fair question here and an important question, because the tax savings you receive may be one of the prime reasons you decide to work with us.
And the fact you are putting your beloved tax dollars back into your pocket in addition to the other financial benefits of our coverage, can make the claims of tax savings seem difficult ot believe or exaggerated - basically requiring a more specific explanation, which you are getting right now:
Business Tax Savings - As a business owner, you have to match your employees on their FICA social insurance taxes, which is 7.65 percent, which means that if, for example, your payroll is $100k/yr, then you must pay 7.65 percent of that $100k for payroll taxes.
Now that your employees are covered with Income Protection Atlanta's voluntary employee benefits and their pretax investment in coverage lowers their taxable income, your new payroll could be $80k/yr and now you have to pay the 7.65 percent on only $80k!
Therefore your business tax savings equal 7.65 percent multiplied by the total amount of your employees' coverage per year.
The question I will ask you here is this, would you rather by taxes on $100k or $80k? On more money or less money? More taxes or less taxes?
Simply put, and you'll remember this, the more coverage your employees get, the more taxes you save, the more coverage your employees get, the more taxes you save, the more coverage your employees get, the more taxes you save, and you remember, because you now have voluntary employee benefits, you are getting more and more and more tax savings - for Free!
2) Family Tax Savings - If you are a W-2 employee and therefore have your coverage pretaxed from your paycheck, then you ALSO save on social insurance taxes, your FICA. You save 7.65 percent multiplied by the amount of your total coverage, PLUS (and you'll remember this) all of your claims are protected from taxes as well!
Recently we met with an accountant and when we informed him of the tax-free claims, he said what nearly all of our business owners say, except with the extra surprise because he is an accountant, "How on earth did you work that out?"
So, you save taxes on your coverage and as an employee with a family, the more you get covered, the more taxes you save, the more you get covered, the more taxes you save, the more you get covered, the more taxes you save.
And for more information on getting more protection and more tax savings through coverage with Income Protection Atlanta, go to http://www.IncomeProtectionAtlanta.com
And remember to download your free report, Protect My Income in Atlanta
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