7 More Family Office Resources:

• Medical Savings Account Family Office Definition: Medical Savings Account Medical Savings Account definition:  A medical savings account (also called Archer MSA) is a tax-exempt savings vehicle for medical expenses for self-employed individuals (or small business or family ...
• Education Deduction Family Office Definition: Education Deduction Education Deduction definition:  The educational deduction allows donors to pay tuition if paid directly to the educational institution (not the student) without being subject to gift or estate taxes. ...
• Political Deduction Family Office Definition: Political Deduction Political Deduction definition:  The political deduction allows unlimited property to be transferred to an IRS-approved political organization through a will or gift without being subject to gift or estate ...
• Marital Deduction Family Office Definition: Marital Deduction Marital Deduction definition:  The marital deduction allows unlimited property to be transferred to a spouse through a will or gift without being subject to gift or estate taxes.  Once ...
• Charitable Deduction Family Office Definition: Charitable Deduction Charitable Deduction definition:  The charitable deduction allows property to be transferred to an IRS-approved charity through a will or gift without being subject to gift or estate taxes. Lifetime ...
• Business Expense Deduction Family Office Definition: Business Expense Deduction Business Expense Deduction definition:  Business Expense Deduction reduce taxable income for business-related expenses. Deductible expenses include transportation, lodging, meals, and car rentals when travelling for business purposes.  Home offices ...
• Health Reimbursement Account Family Office Definition: Health Reimbursement Account Health Reimbursement Account definition:  A health reimbursement account reimburses employees for medical expenses.  The family business can use health reimbursement accounts to cover family member employee's health expenses ...