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I own an S Corporation and I'm thinking of buying a vehicle
Hi, I own an S Corporation and I'm thinking of buying a vehicle over 6,000 lbs. I have several questions related to this:1. Let's say the purchase price of the car is $50,000 and I put down $4k. Am I … read more
Lev
Lev
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Bachelor's Degree Equivalent
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For free or for a fee. Is there a fee. I just need to know
I just need to know if S Corp can pay auto vehicle loan monthly payment without creating any W2 taxes?… read more
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Lev
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I have a question about purchasing a car under my S-Corp. My
Hello, I have a question about purchasing a car under my S-Corp. … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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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
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I plan to lease a car this week. I am a small business owner
I plan to lease a car this week. I am a small business owner grossing over 650k this year and I'm wondering if it would be advantageous for my taxies to lease a SUV over 6000lbs or not? … read more
PDtax
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Background: I own a retail business in North Carolina that
Background: I own a retail business in North Carolina that is structured as an S-Corp. I would like to purchase/lease a Land Rover and have the business pay for it. I currently make a smaller salary a… read more
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Topic: Tax Strategy for Individual switching from Sole
Topic: Tax Strategy for Individual switching from Sole Proprietorship to 1 man S-Corp1. When I was a sole P, I was paying for my own Health Insurance, Long Term Disability, and SEP-IRA. Should I now h… read more
Lane
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We have an employee and 10% Sub S owner who rented a truck
Hello, we have an employee and 10% Sub S owner who rented a truck in his name. The truck is used primarily for business. The company pays the monthly rental charge. How must this be reported? Thank yo… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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Small, cash basis S-Corp with one shareholder, who's also an
Small, cash basis S-Corp with one shareholder, who's also an employee. Accountable Reimbursable Expense Plan already in place. Principal place of business is an office-in-home. Haven't taken depreciat… read more
PDtax
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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
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Question regarding HSA contributions. Lane - you answered my
For Lane - Question regarding HSA contributions.Hi Lane - you answered my question regarding Health Insurance reimbursement by an S-Corp on a W2. Just a reminder, I am a 100% shareholder of my S-corp,… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
19,944 satisfied customers
My question is, if my wife receives an advance in her salary
Hello, My question is, if my wife receives an advance in her salary at the end of the year and puts it into the company we started to purchase materials needed for a project, can we right it off under… read more
Lane
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How can we buy 2 cars under our business name? we have 2
how can we buy 2 cars under our business name? we have 2 companies , one is LLC and the other is S corp, we are in Florida, we are in the market now to buy 2 cars, a used one for maybe $5000 from an e… read more
BK-CPA
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My wife and I own a Sub S business 50/50. I am thinking of
My wife and I own a Sub S business 50/50. I am thinking of putting her on my personal insurance plan which is grandfathered under the ACA and having the business reimburse us since she recently lost h… read more
BK-CPA
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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
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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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Dear Megan, I own a c corp of which I and my wife are sole
Dear Megan, I own a c corp of which I and my wife are sole owners and drawing salary from it against W-2. In addition I own an S corp where again I am my wife are sole owners but we are not drawing an… read more
Lane
Lane
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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
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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