Matthew Laker
Coffee this morning with Matthew Laker, and if you own a small business with a corporation, there is a tip in here worth your time.
Gd2Go was closed for Thanksgiving, so we ended up at Twiggs on McKeown. Matthew is the lead pastor at Lakeshore Missionary Church, and he is also an independent broker with Experior Financial Group. He has been a pastor for about twenty three years, and long before he was licensed he was sitting down with people to help them with budgets and money. He told me pastoring is a lot like life coaching: where are you now, where do you want to go, and how do you get there. Money works the same way. Here is the tip. If you are a solo owner and you are incorporated, a Health Spending Account lets your corporation pay for things like your dental bills. Pay a $200 dental bill personally and you have to pull out around $240 or $250 from the company to cover it, because of tax. Let the corporation pay it and the bill is $200. Most solo owners I know have never heard of it. He also works with charities and non profits on group benefits. A lot of small organizations do not fit a traditional plan, and he says most do not know the options exist. The line I wrote down: "Every dollar has a purpose. Either you tell it what its purpose is, or it will." If you run a charity, or you are a solo incorporated owner paying for benefits out of your own pocket, Matthew is worth a conversation. matthewlaker.com Thanks for the coffee, Matthew. Great conversation.
