Are you a business owner that needs an all-around solution that will reduce taxes, cover your fixed expenses in the event of disability, and give you peace of mind?
Are you concerned about unexpected future events that might impact your ability to earn income and pay your bills?
Business Overhead Expense Insurance (BOE) is the definitive solution that will cover costs in the event of disability, reduce overall stress – all while reducing taxes.
Conversations about disabilities and injuries are never pleasant. Proper planning and insurance will help you dodge any future problems and give you peace of mind today.
Save Taxes & Protect Your Future with BOE
Are you concerned about an unexpected injury that may affect your ability to earn income?
BOE is an expense reimbursement insurance policy with tax-deductible premiums that will cover monthly overhead expenses in the event of a disability.
When it comes to managing expenses in the time of an emergency, BOE is a wise solution for business professionals that have their own corporation.
Premiums are tax-deductible, which means you save on taxes. In the event of an injury, benefits are then paid that cover monthly overhead business expenses (instead of anticipated profits).
Expenses Covered by BOE
Business owners have a wide range of expenses to keep track of, ranging from rent to membership fees. In the event of a disability, these expenses can be overwhelming and cause extreme stress while you figure out what to do.
Wouldn’t it be reassuring to know that your expenses are covered while you look for a solution to your income situation?
BOE can cover the following expenses in the event of a disability, such as:
- Rental payments for business-related properties
- Utility payments like heat, water, telephone, electricity and internet
- Interest payments on outstanding eligible business debts
- Non-attorney employees’ salaries
- Payroll taxes
- Postage, stationery and other office supplies
- Equipment maintenance
- Rental, lease, or depreciation of office equipment
- Monthly average tax payments for business-related properties
- Insurance premiums for Workers’ Compensation, Employee Medical Plans, Employee Taxes, General Liability, Professional Liability/Malpractice
- Accounting/Bookkeeper fees
- Professional memberships and/or subscription dues
Who benefits the most from BOE?
BOE is suitable for small business owners that own a personal corporation, such as physicians, lawyers, accountants and engineers. It is also ideal for professionals that have a small amount of staff with substantial expenses like payroll.
While BOE covers most occupations, there are exclusions in the case of war or normal pregnancy. Please make an appointment for more details.
BOE Premiums Are Tax-Deductible
Are you looking for an insurance solution that will also save you on taxes?
Besides the benefits of covering costs and reducing stress, the premiums on BOE are tax-deductible, enabling you to reduce declared income and save on taxes.
How long will BOE cover me?
In the event of a disability, BOE will cover your expenses until age 65. After that, the policy is conditionally renewable while you are employed a minimum of 30 hours per week and continue to be responsible for the expenses of maintaining your business operations.
The policy for total disability benefit continues up to age 75, and is reduced by 50% afterwards.
When the future is uncertain, BOE will be there to cover your expenses while saving taxes and preserving your wealth.
No one likes to think about injury or disability, especially when they have substantial responsibilities like running a business or providing for their family.
Business Overhead Expense Insurance is the best solution for maintaining your business in the event of a disability while letting you deduct the premiums at tax time.
We work with small business owners from many industries and understand the complexities of running your business, and the risks involved.
Over many years we have cultivated the expertise and knowledge to come up with creative solutions for business owners to maximize their income, reduce taxes, and reduce the stress that comes with running a business.
Strategies involving insurance, estate planning, and taxation can be complicated and require expert advice. Proper planning pay dividends in the long run, helps you keep more of your income, and secures your future.
Click here to learn how Business Overhead Expense Insurance will give you peace of mind by ensuring your expenses are paid in the event of a disability, all while saving taxes.