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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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These questions are in regards to my c-corp with a single w2

Customer Question

These questions are in regards ***** ***** c-corp with a single w2 employee who is myself. I have individual health insurance with subsidized boom care / covered ca. I'm looking to either reimburse or have the c-corp pay for my insurance fee's and medical expenses as both a corporate deduction and as a tax free corporate employee benefit. Here are my questions:We do this because it's both a business deduction and a tax free personally?Is it better for the regular premium to be paid for by the business checking account or reimbursed to the employee? If so, why?Should or must reimbursed medical expenses be tracked on a w2?What about medical expenses paid by C-Corp directly? Reported on the w2 as a tax free benefit?Does it matter if it's an individual health plan (if only 1-2 people are being covered)? What happens when 3 people are covered?
In your email, do meeting minutes replace the Section 105 Medical requirement? If so, what's the trigger to require this measure of compliance?Any considerations for when the personal/individual medical insurance paid for or reimbursed by the C-Corp is obama care / covered ca?
Submitted: 1 year ago.
Category: Finance
Expert:  Arthur Rubin replied 1 year ago.

(With the new system, I can't just ping Camille. Perhaps someone will notice.)

We need a "health insurance" category. I can't find it.