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What percent of health insurance premiums can business deduct as business expense?
Wiki User
∙ 11y ago
about 10-20% because of the off and on differences the health has. the 401(k) would most likely benefit from this.
Wiki User
∙ 11y ago
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How do you calculate mortgage insurance premiums?
1. alculate the Loan to Value ratio (LTV). LTV = loan amount /total mortgage value, where loan amount = total value of mortgage --down payment on the property.If the mortgage value is $100,000 and the client makes a 10-percent down payment ($10,000), the loan value is $90,000. LTV ratio is equal to 90000/100000 or 0.9 or 90 percent.2. Determine the mortgage insurance rate. Rates are different for private mortgage insurance (PMI) and an FHA loan. In order to determine the correct insurance rate, contact the insurance provider. Generally, PMI insurance rates fall within the range of 0.5 to 1 percent. FHA loans require a premium of 1.5 percent of the loan value at closing; monthly premiums fall in the range of 0.5 percent of the loan amount. Contact the insurance provider to determine the correct insurance rate.3. Calculate the premium with the following formula: Mortgage insurance premium (annual) = LTV amount x mortgage insurance rate. Mortgage Insurance premium (monthly) = mortgage insurance annual premium / 12. For example, if the LTV is $90,000 and the mortgage rate is 1 percent, the annual mortgage insurance premium = $90000 x 0.01 = $900, and the monthly mortgage insurance premium = $900 / 12 = $754. Research the benefits, liabilities and costs of owning mortgage insurance. Mortgage insurance may be tax deductible. However, the cost of the insurance can be substantial on large loans. Generally, the insurance can be canceled when 20 percent of the loan has been repaid, but the terms vary according to the provider.
What are cost savings with return to work program?
1998 Business Insurance Report showed that employers who offered a transitional return to work program saved between 10 to 40 percent on medical costs, and between 14 to 25 percent in wage replacement costs.
How much money does an insurance salesman earn?
Well it depends, where you are located and what company you work for, and what lines of insurance you sell. But as an average according to the Department of Labor The median annual earnings of wage and salary insurance sales agents were $41,720 in May 2004. The middle 50 percent earned between $29,980 and $66,160. The lowest 10 percent had earnings of $23,170 or less, while the highest 10 percent earned more than $108,800. Median annual earnings in May 2004 in the two industries employing the largest number of insurance sales agents were $42,010 for insurance carriers, and $41,840 for agencies, brokerages, and other insurance related activities. And if you are a "salesman" in this business you will not go far, because it is a business of ethics and morals, not so much throwing sales pitches around. Many sucessful agents are advisors or consultant and try to do whats best for their clients; being a salesman are for car dealers. Hope this helps!
What is the approximate percent of Americans that run their own business?
six point six percent
What percentage deposit is required to avoid mortgage insurance?
ten percent
How big is the insurance industry in the United States?
During 1992, over $276 billion, or 43 percent, of the $649 billion in non-life insurance premiums in the world were written in the United States
What health reform legislation of 1996 provided a boon to health insurance agents?
Self-employed people would be able to deduct 40 percent of health premiums from their 1997 taxes; in 1998-2002 the amount would increase to 45 percent and gradually keep rising to 80 percent in 2006
How do you calculate mortgage insurance premiums?
1. alculate the Loan to Value ratio (LTV). LTV = loan amount /total mortgage value, where loan amount = total value of mortgage --down payment on the property.If the mortgage value is $100,000 and the client makes a 10-percent down payment ($10,000), the loan value is $90,000. LTV ratio is equal to 90000/100000 or 0.9 or 90 percent.2. Determine the mortgage insurance rate. Rates are different for private mortgage insurance (PMI) and an FHA loan. In order to determine the correct insurance rate, contact the insurance provider. Generally, PMI insurance rates fall within the range of 0.5 to 1 percent. FHA loans require a premium of 1.5 percent of the loan value at closing; monthly premiums fall in the range of 0.5 percent of the loan amount. Contact the insurance provider to determine the correct insurance rate.3. Calculate the premium with the following formula: Mortgage insurance premium (annual) = LTV amount x mortgage insurance rate. Mortgage Insurance premium (monthly) = mortgage insurance annual premium / 12. For example, if the LTV is $90,000 and the mortgage rate is 1 percent, the annual mortgage insurance premium = $90000 x 0.01 = $900, and the monthly mortgage insurance premium = $900 / 12 = $754. Research the benefits, liabilities and costs of owning mortgage insurance. Mortgage insurance may be tax deductible. However, the cost of the insurance can be substantial on large loans. Generally, the insurance can be canceled when 20 percent of the loan has been repaid, but the terms vary according to the provider.
Where can you learn more about group health insurance?
The majority of people under the age of 65 have medical insurance through their employers' group insurance. According to the National Coalition on Health Care, in 2005, over 80 percent of employees were eligible for employer-group insurance and 83 percent of those who were offered, opted for these types of plans. This is usually because employers and other organizations can get better rates because they have a large number of people to cover. The insurance company sees it as good risk because they'll probably end up paying out very little for many people in the group, while collecting premiums from everyone. Normally, this translates into premiums that are much lower than those found in individual health insurance plans and are the same price for everyone in the group regardless of their health.
What is the cost of property and casualty business insurance in 2013 as a percentage of gross sales?
Every risk is different, but in general, less than 1 percent.
Sales is 50000 variable expense 20000 fixed expense 20000 net income 10000 find net income if activity volume increases 10 percent percent?
$13000 or an increase of $3000.
What percent of premiums does AFLAC pay out for claims?
Aflac pays 2X as much in claims as in administrative costs.
How to Find Cheaper Auto Insurance in Rhode Island?
You need to insure your car to meet Rhode Island's car insurance requirements, but you do not need to break the bank paying car insurance premiums. There are a lot of ways that you can save money on your car insurance premiums without reducing your coverage, buying a different car or making any investments to save money in the long run. Follow these tips to find cheaper auto insurance in Rhode Island.DiscountsAsk your current auto insurance provider or your prospective car insurance providers about the discounts that they offer, and you may be surprised at how much you can save on your premiums. Many car insurance companies offer discounts to individuals who work for certain businesses or who are affiliated with certain universities and other organizations. Rhode Island high school and college students who earn grade point averages of 3.0 or better can often earn discounts upwards of 10 percent off of their insurance premiums. Be sure to tell your insurance company if you have cut back on your driving because most insurance companies offer discounts to drivers who drive under a certain amount of miles each year. Also, you should tell your insurance company if you have any special features added to your vehicle that make it safer or more secure or if you move to a safer Rhode Island neighborhood.Shop AroundThe best way to find cheaper auto insurance in Rhode Island is to shop around to find the best deal that is available to you. Not all insurance companies use the exact same metrics to determine your car insurance premiums, and some insurance companies are simply able to offer cheaper rates due to their business structure and operational costs. Request free quotes online or over the phone from several different local and national car insurance companies to find the cheapest car insurance rates. There is no reason not to shop around to find the best quotes. You are under no obligation to choose an insurance company just because you requested quotes, and requesting quotes will not affect your credit score because they are not hard credit inquiries.
What is the equity percent needed to finance a new business?
what is the equity percent needed to finance a business
What percent of the expenses is spent on utilities the utilites are 285 and the total expense is 2339.50?
~12.18%
What percent of your annual income is safe to spend on health related insurance?
what percent of your annual income is safe to spend on health related insurance?
Three Tips on Getting Cheap Auto Insurance in Wyoming?
Insuring your car can be a big expense, but it doesn't have to be. If you are a smart and patient shopper you can shop around to find cheap automobile insurance rates in Wyoming. Follow these three tips on getting cheap auto insurance in Wyoming to find the best deals possible.Request Several Auto Insurance QuotesThere are numerous automobile insurance companies that operate in Wyoming, so you should take advantage of the variety and shop around. You can contact insurance companies agents' by phone to request price quotes, or you can fill out forms online to request auto insurance price quotes. When you request quotes you should be sure to enter the exact same information and estimates. You should also play around with the coverage options to ensure that you are comparing equal plans among the insurance companies.Look for DiscountsAutomobile insurance companies offer various discounts to reduce the insurance premiums for almost all customers. Contact your current car insurance company or your potential insurance companies to determine if you are eligible to receive any of the automobile insurance discounts. Discounts apply in various amounts for receiving high grades in school, having certain automobile safety features, low-mileage driving, good driving records, business and organization affiliations and more.Determine Your Coverage RequirementsAn easy way to quickly reduce your automobile insurance premiums is to lower your auto insurance coverage. If you determine that you do not really need collision or comprehensive coverage you can save a lot of money on your insurance policy. You can also cut out roadside assistance or rental car coverage if you belong to certain organizations or have certain credit cards. You may be overpaying for double coverage already, so this is a great place to start your cutbacks. You may also want to increase your deductibles so that your insurance premiums are less. You can save about 40 percent by increasing your deductibles from $200 to $1,000. However, you should first make sure that you will be able to pay those deductibles if you need to before you make this decision to increase your deductibles to save money now.
