You can be on Entrepreneur’s cover!

How a Health Savings Account Can Be a Smart Tax Strategy Have you been considering a health savings account? Here, accountant Mark Kohler explains the advantages.

By Mark J. Kohler

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Have you been considering a health savings account for your business? While an HSA strategy typically means choosing a health-insurance policy with a higher deductible, accountant Mark Kohler says there are several advantages. Among them:

  • Tax deductions for contributions.
  • Tax-free growth on investments using the HSA.
  • Tax-free withdrawls for health-care expenses.
Mark J. Kohler

Entrepreneur Leadership Network® VIP

Author, Attorney and CPA

Mark Kohler, M.PR.A., C.P.A., J.D., is a highly respected Founding and Senior Partner at KKOS Lawyers, specializing in tax, legal, wealth, estate, and asset protection planning. With a reputation as a YouTube personality, best-selling author, and national speaker, Kohler is dedicated to guiding clients through complex legal and financial landscapes to achieve their American Dream. He also serves as the co-founder and Board Member of the Directed IRA Trust Company and has launched the Main Street Certified Tax Advisor Program to train CPAs and Enrolled Agents nationwide. As the co-host of The Main Street Business Podcast and The Directed IRA Podcast, he simplifies intricate topics like legal and tax strategy, asset protection, retirement, investing, and wealth growth. Mark Kohler's commitment to helping entrepreneurs and small business owners attain success and financial security has made him a trusted expert in the field, benefiting countless individuals and businesses in navigating the financial and business world with confidence.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Data & Recovery

This Cloud Storage Deal Can be an Easy Win for Your Business: $25 for 100GB

Keep a reliable cloud storage solution on hand for business needs.

Starting a Business

This Side Hustle Is Helping Landowners Earn Up to $60,000 a Year While Connecting Outdoor Lovers With Untouched Wilderness

If you've got some land, why not make some extra cash while letting others get out into nature?

Health & Wellness

How to Escape Entrepreneurial Burnout When You Can't Just Quit

What do you do when you're experiencing burnout as an entrepreneur and you feel like your entire career is on life support as you barely make it through each day? Try these solutions for entrepreneurs who can't just quit their jobs when they've had enough.

Leadership

How CEO Favoritism Contributes to Workplace Toxicity — and How to Create a Fair and Inclusive Work Environment

CEO favoritism undermines company culture, but these effective strategies for fostering fairness and engagement can help avoid favoritism pitfalls.

Starting a Business

These Are The 5 Critical Factors to Consider Before You Buy Your Franchise

It's a lot easier to leave a bad job than the wrong franchise. To determine which opportunity is right, you have major research and interviewing ahead.

Growing a Business

Who You Hire Matters — Here's How to Form a Team That's Built to Last

Among the many challenges related to managing a small business, hiring a quality team of employees is one of the most important. Check out this list of tips and best practices to find the best people for your business.