
Originally Posted by
Melonie
If you want to seriously explore the possibility of setting up a 'medical fund', I'm pretty sure that there's a way to do this via forming an LLC/corporation where every dollar you contribute to the 'medical fund' is a tax write-off even if the contributions are much greater than the actual medical expenditures in a given year. I'm also pretty sure that, as long as it is kept separate, that the 'medical fund' money can be invested and collect tax free interest and dividends until the time comes when it needs to be spent. I've never explored the details of this i.e. the legal requirements for an LLC/corporation with one 'employee' setting up 'self-insurance' coverage for that employee, but I'm pretty sure that it can be made to work. Legal/accounting experts ?
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