Business Management Videos


Videos to help you learn how to better manage your business
Business Management
  • NASE Benefits At A Glance

    As a NASE member you have access to MANY benefits designed to help you with your business needs. In this video John Hearrell talks about how to quickly see just what is available to you.

    Posted on 3/29/2018 12:00:00 AM by John K. Hearrell
  • How to Deduct the Business Use of Your Vehicle

    Will you be prepared at the end of the year to take your vehicle tax deduction? Are you keeping a mileage log in case of audit?

    Posted on 09/22/2016 00:00:00
  • NASE Business Benefit Overview

    Through your NASE membership, you will unlock countless doors that lead directly to one goal: Providing you the tools and resources needed to have a true business advantage in the marketplace.

    Posted on 09/15/2016 00:00:00
  • New Business - What Tax forms do I need?

    Now that you have started a new business, what additional tax forms do you need to have? Keith explains the differences in various tax forms.

    Posted on 04/28/2016 00:00:00
  • New Business - Different Types Explained

    What type of operating structure and entity form will you use; Sole Proprietorship, Partnership, Limited Liability Company or Corporation. Remember, the decision you make will not make a material difference in your overall tax liability.

    Posted on 03/17/2016 00:00:00

Related News...


Ask The Experts: HRA for LLC

Monday, April 02, 2012

Q: I am a majority owner of a new multi-member limited liability company. My wife is the other member and is a minority owner.

We want my wife to be eligible for health care expense reimbursements from a health reimbursement arrangement. Is there a minimum number of hours per week she must work as a part-time employee of the LLC to qualify under the HRA? What are your recommendations in regard to documentation of these hours?


A:
Let's go back a step and make sure we are on the same page with your HRA.

Only bona fide employees are eligible for reimbursements under an HRA.

If your wife is an owner or member in the multi-member LLC, then she is not a bona fide employee and cannot participate in the HRA.

Further, an owner of your LLC would not be compensated as a part-time employee, so there would be no minimum or maximum work hours at issue.

Now back to your practical questions. If you adopted the HRA to cover your family’s medical expenses, then your wife needs to be a bona fide employee of the LLC, and you need to be the only owner of the LLC.

Regarding work hours and wages, the wages that you pay your employees need only be reasonable in connection with the services that they provide. If the sole reason for this employee/employer relationship is the HRA, then there is no minimum or maximum work hours required.

Simply documenting the actual hours your wife works will suffice. It is a great idea to keep actual time cards just like you would require of an unrelated third-party employee.

Just be reasonable and diligent. Those are the only real requirements.

Remember that as an NASE Member, you have access to a health reimbursement arrangement through NASE HRA 105. Your HRA can be customized to your specific needs, adding maximum flexibility to your business, while saving significant tax dollars.

To learn more about the NASE HRA 105, check out this free online webinar.


Get More Answers

The NASE’s small-business experts are here to help you understand the ins and outs of operating a successful small business. And access to these professionals is free with your NASE Membership!

Just go online to the NASE’s Business Learning Center where you can ask the experts questions about:

  • Taxes
  • Health care expenses
  • Financial issues
  • Employee relations
  • Accounting rules
  • And much more

The experts are available 24/7 and ready to help!


Want to see more news items?  Click here 

Related Blog Posts...

Want to see more blog posts?  Click here 

Still Have Questions?

Ask The Expert