Chamber Smart Plans

12/16/2024

AgriPlan and BizPlan are Section 105 Health Reimbursement Arrangements enabling small business owners to deduct taxes for medical expenses.

12/16/2024

I do not sell this but can put you in touch with the company that does. This is something Tina and I buy each year, and it has saved us thousands of dollars.

BizPlan clients save an average of more than $6000 a year on their taxes. The key is the ability to declare medical expenses as a business expense, rather than a personal deduction. BizPlan is a Section 105 Health Reimbursement Arrangements (also known as HRAs) enabling qualified small business owners to deduct federal, state, and self-employment taxes for family medical expenses.
If you are a small business owner, a BizPlan can help you and your family save thousands of dollars each year.

AgriPlan and BizPlan are Section 105 Health Reimbursement Arrangements enabling small business owners to deduct taxes for medical expenses.

12/16/2024

Call me at 678-767-7169. Email me parnick@parnickjennings.com

This is something that Tina and I buy and have saved thousands of dollars each year. I do not sell this but can put you in touch with the company that does. This is great for self-employed people, especially people in the Real Estate Business. You still have time to take advantage of medical, dental, and vision expenses you had in 2024.

BizPlan clients save an average of more than $6000 a year on their taxes. The key is the ability to declare medical expenses as a business expense, rather than a personal deduction. BizPlan is a Section 105 Health Reimbursement Arrangements (also known as HRAs) enabling qualified small business owners to deduct federal, state, and self-employment taxes for family medical expenses.

If you are a small business owner this plan can help you and your family save thousands of dollars each year. The cost is only a few hundred dollars.

AgriPlan and BizPlan are Section 105 Health Reimbursement Arrangements enabling small business owners to deduct taxes for medical expenses.

09/22/2024

Excited to announce the arrival of The Alliance for Nonprofit Growth and Opportunity (TANGO) to Georgia. Grateful to NFP for their continued support and sponsorship, enabling this expansion to the Southeast.

With over 50 terms on nonprofit Boards of Directors, I understand the value TANGO brings. Please let me know if you would like to join me for a virtual meeting on October 8th at 11 AM to learn more. My email is parnick.jennings@nfp.com. Please forward to any nonprofits you may know. Places of worship can also join.

Explore TANGO's mission to help nonprofits thrive at

https://lnkd.in/ezpDkjN5

https://www.tangoalliance.org/overview/

TANGO offers complimentary services to nonprofit organizations, supported by socially conscious TANGO Partners. Become a TANGO Member at no cost and access exclusive offerings.

Benefit from a variety of events, programs, and educational workshops offered by TANGO throughout the year. Stay tuned for a daylong event in Georgia this spring, providing valuable insights at no cost. Reach out with any questions.

Looking forward to fostering nonprofit excellence together!

Who We AreThe Alliance for Nonprofit Growth & Opportunity Learn More With over 1,800 nonprofit organizations, TANGO is a powerful community helping nonprofits reach their mission. TANGO offers our nonprofit Members a platform of business services through the help of our socially conscious TANGO Part...

06/26/2024

The ACA imposed the PCOR fee on health plans to support clinical effectiveness research. The PCOR fee, which applies to plan years ending on or after October 1, 2012, and before October 1, 2029, is generally due by July 31 of the calendar year following the close of the plan year.
PCOR fees must be reported annually on Form 720, Quarterly Federal Excise Tax Return, for the second quarter of the calendar year. Plan sponsors that are subject to PCOR fees and no other types of excise taxes should file Form 720 only for the second quarter. For further details, please refer to: Form 720, Quarterly Federal Excise Tax Return (Rev. June 2024) and Instructions for Form 720 (Rev. June 2024) (irs.gov).
Generally, the PCOR fee is assessed based on the number of covered lives, which include enrolled employees, retirees, and COBRA participants and their enrolled spouses, domestic partners, and dependents. The fee for policy and plan years ending on or after October 1, 2022, but before October 1, 2023, is calculated based on the applicable rate of $3.00, multiplied by the average number of covered lives under the plan. For plan years ending on or after October 1, 2023, but before October 1, 2024, the fee is increased to the applicable rate of $3.22, multiplied by the average number of covered lives under the plan.
As a reminder, the insurer is responsible for filing and paying the fee for a fully insured plan. The employer plan sponsor is responsible for filing for a self-insured plan, including an HRA or point solution program that provides medical care. But stand-alone dental or vision plans and health FSAs that qualify as excepted benefits would not be subject to the PCOR fee.
According to the IRS, the fee is tax-deductible as a business expense. ERISA plan assets should not be used to pay the fee.
For further information regarding the PCOR fee and filing, please email me at parnick.jennings@nfp.com

06/26/2024

Unless an exception applies, each ERISA group health plan must file an annual report with the DOL via Form 5500 (Annual Return/Report of Employee Benefit Plan). The Form 5500 must be submitted electronically by the last day of the seventh month following the end of the plan year (e.g., July 31 for a calendar-year plan). A two-and-a-half-month extension of the Form 5500 due date will be automatically granted by filing a Form 5558 (Application for Extension of Time to File Certain Employee Plan Returns) on or before the normal due date.
The 2023 Form 5500 and instructions are accessible on the DOL website.
One important exception to the Form 5500 filing is for plans with fewer than 100 participants as of the beginning of the plan year that are unfunded, fully insured, or a combination of unfunded and fully insured. “Unfunded” refers to a plan that pays benefits from the employer’s general assets (and not through a trust or other funding vehicle). Additionally, group health plans sponsored by a government or church organization typically do not require a Form 5500 filing since these plans are not subject to ERISA.
Plans must maintain sufficient records to document information required by the plan’s Form 5500 for at least six years after the filing date of the Form 5500. As a practical matter, this means that records should be retained for approximately eight years from their creation, which considers the plan year for which the form is being filed and the subsequent filing period.

Please email me at parnick.jennings@nfp.com if you have any questions

12/26/2023

The truth is a foolproof business tactic.

12/24/2023

Copied with permission from my friend, James Roy Orr Jr

As Christmas Day approaches, please consider the following that was borrowed from another Combat Veteran:
If you have a Combat Veteran in your family (or a group of close friends) and you don’t like their moods and behavior around the holidays, please consider these six things:
1.) Your combat veteran has served in countries where people are blessed to receive a tattered pair of shoes or have clean water to drink; they no longer live the “first world illusion” and no longer care that if you buy one play station, you can get a second one for fifty percent off. In fact, they find it hard to appreciate any of the gluttonous commercialism and overindulgence that permeates American holidays. Standing watch, boring as it was, had so much more purpose than going to the mall.
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2.) Your Combat Veteran is thankful for the most basic things, not thankful for mega-sales and million-dollar parades. They are thankful to be alive, thankful to have survived both the wars far away and the wars they struggle with inside.
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3.) Your Combat Veteran is thankful that it wasn't them that got killed, but their celebrations are forever complicated by guilt and loss over those that were. Some of the most thankful times in their life were some of the scariest. Their feelings of thanks and celebration often conjure memories that are equally painful.
4.) Your Combat Veteran is not like you anymore. At some point, for some period of time, their entire life boiled down to just three simple things: when will I eat today, when will I sleep today, and who will I have to kill or will try to kill me today? They are not like you anymore.
5.) Your Combat Veteran does not need a guilt trip or a lecture; they already feel detached in their grief while others so easily embrace the joy of the season. They need understanding and space, empathy, not sympathy.
6.) Your Combat Veteran does love their family and is thankful for the many blessings in their life…and they are thankful for you.
To all my brothers and sisters of the uniform, know that we all struggle with one thing or another, but as we go into this holiday season, reach out to those you love. You didn't fight alone on the battlefield, and we don't have to fight alone at home.
Copied from a Marine Brother’s page!
Happy holidays, Merry Christmas, and Happy New Year!
May God continue to bless everyone who He loves and created!
I love you and appreciate your service if you served, and I sincerely request your prayers, support, and encouragement during this challenging time for all!
Roy
Service-connected disabled combat Vietnam Veteran, Tan Son Nhut Air Base, Saigon, Vietnam 1966-67

12/23/2023

I thought this was worth posting again:

A young couple moved into a new house. The next morning while they were eating breakfast, the young woman saw her neighbor hanging the washing outside.
"That laundry is not very clean; she doesn’t know how to wash correctly. Perhaps she needs better soap powder. Her husband looked on, remaining silent.
Every time her neighbor hung her washing out to dry, the young woman made the same comments.
A month later, the woman was surprised to see a nice clean wash on the line and said to her husband, "Look, she’s finally learned how to wash correctly. I wonder who taught her this?"
The husband replied, "I got up early this morning and cleaned our windows."
And so it is with life… What we see when watching others depends on the clarity of the window through which we look.
So don’t be too quick to judge others, especially if your perspective of life is clouded by anger, jealousy, negativity or unfulfilled desires.
"Judging a person does not define who they are. It defines who you are.

12/07/2023

12/04/2023

Thank you to Bill Borden

Have you ever thought about this?
In 100 years like in 2123 we will all be buried with our relatives and friends.
Strangers will live in our homes we fought so hard to build, and they will own everything we have today. All our possessions will be unknown and unborn, including the car we spent a fortune on, and will probably be scrap, preferably in the hands of an unknown collector.
Our descendants will hardly or hardly know who we were, nor will they remember us. How many of us know our grandfather's father?
After we die, we will be remembered for a few more years, then we are just a portrait on someone's bookshelf, and a few years later our history, photos and deeds disappear in history's oblivion. We won't even be memories.
If we paused one day to analyse these questions, perhaps we would understand how ignorant and weak the dream to achieve it all was.
If we could only think about this, surely our approaches, our thoughts would change, we would be different people.
Always having more, no time for what's really valuable in this life. I'd change all this to live and enjoy the walks I've never taken, these hugs I didn't give, these kisses for our children and our loved ones, these jokes we didn't have time for. Those would certainly be the most beautiful moments to remember, after all they would fill our lives with joy.
And some of us waste it day after day with greed, selfishness and intolerance.
Every minute of life is priceless and will never be repeated, so take time to enjoy, be grateful for, and celebrate your existence.

12/03/2023

I am going to a Falcons game this month and need a recommendation as to where to park. There are several places that I can buy a parking pass but not sure where to go