Posted by: danielrashke | January 9, 2008

Getting What You Pay For

Sometimes, you just get it right.  For years we at TASC have maintained that the owners of Sub Chapter S Corporations don’t need to install a Health Reimbursement Arrangement (HRA) in order to deduct health insurance expenses from their income taxes.  The government has stepped in with an Internal Revenue Service (IRS) notice that clarifies the rules regarding this issue.  As it turns out, TASC has interpreted these regulations correctly all along.  And we kept the confusion in perspective, refusing to put profit ahead of the needs of our small business owner Clients. 
Unfortunately, some of our competitors have preyed on their Clients and their tax professional.  Taking advantage of the confusion, these competitors stressed that the HRA was absolutely vital for Clients who hoped to deduct their health insurance premiums from their taxes.  These are the same firms that have tried to beat us over price. Our response:  you get what you pay for!  As with most things, superior quality isn’t cheap. 
What does your administrative fee pay for?  It pays for a third party administrator committed to bringing new ideas and concepts to the market.  TASC was first to spend the time and money to research the Section 105 (HRA) concept for sole proprietors, and we were first to bring it to the market.  Before TASC, sole proprietors had no tax saving options when paying for their health care.  TASC changed all that.  Indeed, our full-time Compliance Specialist constantly monitors developments that might affect our Plans, keeping an eye on the ever-changing rules and regulations and apprising you of developments when need be. 
Some competitors’ websites talk about recent audit decisions that reinforce various regulations surrounding these Plans.  They present these decisions as good news for Clients.  But they don’t tell you the whole story…that TASC assisted the defendants in these cases.  Yes, TASC was there. We paid the attorneys fees, we provided documentation, and we risked the penalties and interest that would have accrued had the audit been unsuccessful.  The ruling references TASC (aka AgriPlan and BizPlan) and can be viewed by clicking here .
We work hard for you.  We research all avenues so we can offer premium Plans and services.  We staunchly defend you so you can tend to running your business.  We hope you agree that TASC is an administrator that truly earns its fee.

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