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I have family child care in my home. Husband, son, and I have health insurance through husbands employer. Premium is $3000. HSA, and $9000. deductible per calendar year. In 2014 we maxed out of pocket medical expenses of $12,000. Husband is my daycare book keeper however not officially employed. We are drowning in medical expenses. How can this HRA work for us?


You can hire your husband as an employee of your business. He would have to do work specifically related to your business. You don't have to pay him a wage. You can then set up an HRA plan and have many of your out of pocket expenses be transformed into a business expense - thus reducing your taxes by a lot. Figure your husband would be "paid" about $15 an hour. If he worked 500 hours in a year, you could deduct $7,500 of your out of pocket medical expenses as a business deduction.

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