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I am the solo owner of a C corporation and there are no
I am the solo owner of a C corporation and there are no employees currently. Can the C corp reimburse me to directly pay for healthcare insurance premiums? The premiums will paid towards a Cobra plan … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I have a small S-Corp business in Baltimore. I have a
I have a small S-Corp business in Baltimore. I have a medical plan for myself, the only employee. The company pays $901 per month for the plan. Is the cost for this plan deductible as an expense? … read more
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Barbara
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Currently, my S Corp is paying for the owners health
Currently, my S Corp is paying for the owners health insurance premiums, life insurance premium and owners disability insurance premium. Are these still considered as taxable income for the owner? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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How can I deduct health care premiums I paid and the medical
Hello, How can I deduct health care premiums I paid and the medical costs I incurred in 2015 from the taxes. I own small business and I am a full time employee of it. Havent accounted the premium/med … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
I have a s corp and with just me as employee. I pay health
I have a s corp and with just me as employee. I pay health insurance every month. I know the health insurance cant be a business expense. And my cpa says it cant be deducted from personal income taxab… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
I have S-Corp, incorporated in Texas state. There are only
I have S-Corp, incorporated in Texas state. There are only two employees, my self and my wife. I am the 100% share holder of this S-corp. I have some questions related to S-corp's wage payment to thei… read more
BK-CPA
BK-CPA
Bachelor's Degree
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What is the best way S-corp with employee plus spouse to
What is the best way for an S-corp with employee plus spouse to deduct health insurance payments from taxes?I am 100% shareholder of an S-corp. Myself and my spouse are the only employees of my S-corp… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
Lane, If you are a Sole Proprietor and you have health
Hi Lane,If you are a Sole Proprietor and you have health insurance through California Covered (obama care), are you allowed to deduct the amount that you paid through your business?Or is that only rec… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
My wife and I own a small C-Corp in FL, she is the
Hi there, My wife and I own a small C-Corp in FL, she is the president, I am the vp. I understand I can start an HRA to cover my out of pocket expenses. What is considered 'highly compensated employee… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
If I have a C-corp that is very profitable this year. 2
If I have a C-corp that is very profitable this year. 2 shareholders ( myself and one other) and 20 employees. I have a very expensive surgery coming up in the near future. Is there a way I can write … read more
Angie
Angie
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Employee medical insurance paid by employer. is it
employee medical insurance paid by employer. is it deductible? i already submited this and gave you my credit card -no answer by you… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
My employer has grossed up my salary to offset the cost of
My employer has grossed up my salary to offset the cost of my (employee contribution) health insurance premiums. This has caused a drastic increase in how I am being taxed as a % of my income and lowe… read more
Tax.appeal.168
Tax.appeal.168
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what is the cleanest and most productive efficient way to write
what is the cleanest and most productive efficient way to write off health insurance for tax purposes and medical expenses in california for a business person that can choose and business entity, such… read more
R. Klein, EA
R. Klein, EA
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Master's Degree
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Must 100%employee/ shareholder of C-corp establish Section
Must 100%employee/ shareholder of C-corp establish Section 105/125 plan in order to reimburse himself for health insurance premiums or accountable plan will suffice?… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,222 satisfied customers
we are a small business of three partners. one in MA, NH, and
we are a small business of three partners. one in MA, NH, and FL. we have a MA based group health insurance plan that covers all three of us. there is a FL based plan that would be preferable to the F… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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Previous question not answered. help me understand why this
previous question not answered. help me understand why this reimbursement would not be called a group health plan and can I deduct the contributions without fear of the excise tax penalty… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,222 satisfied customers
Hi, Im considering electing to file as an S corp for my LLC.
Hi, I'm considering electing to file as an S corp for my LLC. As I understand it I pay myself a reasonable wage and the rest will be a distribution. I plan to use half of revenue of s corp (about 80K)… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,384 satisfied customers
One follow up question: the 1099 instructions mention medical
One follow up question: the 1099 instructions mention medical and health care payments. Do we prepare a 1099 for the health insurance company that covers our employees, or is this only for if you were… read more
Megan C
Megan C
Certified Public Accountant (CPA)
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