Calculate Your Tax Savings

	Cost to individual incurring $5,000 in medical expenses	Cost to Corporation Using Promedent	Cost to individual incurring $1,500 in medical expenses	Cost to Corporation Using Promedent
Estimated annual health and dental expenses	$5,000	$5,000	$1,500	$1,500
Estimated administration fee	$0	$50	$0	$50
Estimated pretax gross income required to pay for medical/dental expenses (assumes 50% personal tax rate, and 18.5% corporate tax rate)	$9,746.59	$5,050	$2,321.98	$1,550
Estimated personal tax credit on medical expenses (assumes 25% x [medical expenses minus the lesser of: (a) 3% of net income, or (b) $1,614])	$491.10	$0	$360	$0
Estimated net pretax income required to pay health care expenses	$9,255.49	$5,040	$1,961.98	$1,540
Estimated net savings to the unrelated employee		$ 9,255.49		$ 1,961.98
Estimated net savings to the unincorporated owner-manager employee		$ 9,215.49		$ 1,921.98

Estimate benefits and tax savings

Employee annual health care costs	$
Employee annual income	$
Employee marginal tax rate		%
Estimated net savings to the employee	$

The information provided is not intended to replace or serve as substitute for any legal, accounting, tax or other professional advice, consultation or service. You should consult with a qualified professional in the respective legal, accounting, tax or other professional area to see if this plan meets your needs.

Back to top