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Can my C-Corp pay for my private health insurance if I am a

consultant for them? Or must...
Can my C-Corp pay for my private health insurance if I am a consultant for them? Or must I be a proper employee on payroll? What can and cant be fringe benefits? My C-Corp is in Delaware and I live and work from Australia. I also have an LLC
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Answered in 1 day by:
4/27/2010
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,239
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Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

Fringe benefits are for employees.

As a "consultant", if it was beneficial for the corporation to pay for your health insurance for non-tax reasons, as long as the insurer didn't have a problem with it, your corporation could pay the premium, but would need to report the premium payments to you as income.
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Customer reply replied 7 years ago
Where you say "but would need to report the premium payments to you as income" Is that as in on my personal return here in Australia? or on the 1120 for the Corp? How would it be reported by the Corp? just as further consultant fees or actually written as health insurance?

It would be reported as additional consultant fees by the corporation, and you would handle it the same way you handle your other consultant fees.
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,239
Experience: Extensive Experience with Tax, Financial & Estate Issues
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