July 2012

For sole proprietorships, unincorporated businesses and incorporated companies a Health & Welfare Trust is a CRA approved plan for business owners to deduct healthcare expenses for their employees.

Private Health Services Plan (PHSP) fall under the guidelines of the Health & Welfare Trust.
PHSP allows sole proprietorships and unincorporated business owners to deduct 100% of qualified healthcare expenses from their taxable business income.

A Health Spending Account ( HSA) is a bank account used by an incorporated company to provide the health care dollars for the benefit of their employees.

Sooner or later it happens to every business owner - some customer somewhere, is going to make an unreasonable request or raise an unfair objection. How the situation is handled may well determine whether or not a client is lost.

Use the following techniques to deal with this “thorny” issue while keeping the business AND the client.

1. Let the client keep their dignity. State your position politely and reasonably. This is not the time to tell them they should have read the fine print.

2. Do not argue. This is not about “I’m right, you’re wrong” this is all about “How can we satisfy all parties involved.”