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Tax Deduction Consulting: Auto Insurance through Payroll Hayden ID

In the past few years, some employers have been adding automobile insurance as a potential payroll deduction. Now auto insurance through payroll deductions is becoming increasingly popular.

Brian Burks, MBA
5660 East Franklin Rd. Suite #130
Nampa, ID
Company
Title: Managing Partner
Company: Burks Wealth Management
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
U of Idaho/B.S. - Marketing
Boise State University - MBA
Years Experience
Years Experience: 15
Service
Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Annuities,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Accumulation Planning,Individual Income

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H&R Block
(208) 934-9203
342 MAIN ST 3
GOODING, ID

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Liberty Tax Service
(866) 871-1040
1563 Fillmore St # 2e
Twin Falls, ID

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Comprehensive Tax Svc Inc
(208) 322-4649
600 N Curtis Rd Ste 210
Boise, ID

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Liberty Tax Service
(866) 871-1040
111 S Broadway Ave # 123
Boise, ID

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Comprehensive Tax Service
(208) 322-4649
600 N Curtis Rd Ste 210
Boise, ID
 
Liberty Tax Service
(866) 871-1040
10804 W Fairview Ave # 100
Boise, ID

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H&R Block
(208) 324-2658
115 W MAIN
JEROME, ID

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Liberty Tax Service
(866) 871-1040
1811 S Lincoln Ave
Jerome, ID

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H&R Block
(208) 442-1556
119 S VALLEY drSTE D
NAMPA, ID

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Tax Deduction Consulting: Auto Insurance through Payroll

Auto Insurance through Payroll Deductions

In recent years, both online payments and payroll deductions have proved to be easy ways to pay bills. Now auto insurance through payroll deductions is becoming increasingly popular.

Bill paying has always been a monumental pain for most people. Payroll deductions to pay bills has been a relatively painless way to handle this problem. In the past, the kinds of bills paid by payroll deductions were mostly employer provided health insurance and those pesky garnishments for such things as court ordered debt payments or child support. In the past few years, some employers have been adding automobile insurance as a potential payroll deduction.

In most cases, the employer is the one providing the insurance, but recently many mainstream auto insurance firms have begun to explore the practice. In is expected that in the coming years this option will become increasingly popular and available. People like payroll deductions for such routine and recurring bills because of several factors. When a bill is paid by payroll deduction, you do not forget that it is due. Since it is paid automatically, you never have the funds in your wallet or bank account and this seems to make it much easier to part with them.

There are a few disadvantages to auto insurance through payroll deductions. In most cases, the entire monthly premium is taken out of one paycheck. This would create uneven paychecks that makes budgeting a bit more difficult. Another concern is what happens to the insurance when one changes jobs or loses his job. In the case where the insurance is provided by the employer, this could lead to an interruption of coverage. More likely, the insured will have a chance to switch his coverage to another method of premium payment.

The auto insurance industry is very competitive and this is leading companies to explore programs to encourage payroll deductions for payment of premiums. In the same manner that many companies have in...

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