This worksheet will give you an estimated tax savings with the S.E.E.D. plan. Enter in the amounts in the fields below, then hit, 'Calculate' at the bottom to project your estimated tax savings with the S.E.E.D. plan.
When entering in values, don't use commas or dollar signs.
First Step:
Enter in the values requested in the first two fields:
Annual Uninsured Medical Expenses:
$ (Deductible, Co-Pay, Vision, Dental etc.)
Total Tax Deductible Expenses:
$
Second Step:
Select your type of entity:
Sole Proprietor
Partnership
LLC
(S) or (C) Corporation*
Third Step:
Select your tax bracket:
Net Taxable Business Income
Tax Bracket
$14,000-$56,800
$56,801-$87,000
$87,001-114,650
$114,651-174,700
Fourth Step:
Click 'Calculate'
$
X % =
$
* Corporations paying FIT on taxable income greater than $87,000, your savings would be 2.9% (NOT 15.3%) of your total out of pocket medical expenses. Contact us for your exact savings.
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