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Related Tax Questions
Regarding the DC D-30 return, are all expenses that are
Regarding the DC D-30 return, are all expenses that are deductible on the 1040 Sch E (rental) also deductible on the D-30? … read more
NPVAdvisor
NPVAdvisor
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Tax question: Taxpayer retired but still have a side
tax question:Taxpayer retired but still have a side business which is a S corp.He owns 100%. the S corp only have a few activities and profit approximate $3000.00 Can the taxpayer treat his medicare a… read more
PDtax
PDtax
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How do medical expenses covered by an S-corp, paid for all
how do medical expenses covered by an S-corp, paid for all employees, flow to the individual for taxation: This is for an LLC, taxed as an S Corp. I deduct medical insurance payments for ALL employees… read more
Lev
Lev
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I own 1 share or 1% of a S corp. I get approximately $5,000.00
I own 1 share or 1% of a S corp. I get approximately $5,000.00 per year for that. When I do my IRS taxes I check the box that says I am NOT an active participant in the S corp so I pay more taxes on t… read more
NPVAdvisor
NPVAdvisor
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When an S corp pays health insurance the owner, and
When an S corp pays health insurance for just the owner, and does not offer coverage to other employees, can the owner claim an adjustment for health insurance on their 1040?… read more
BK-CPA
BK-CPA
Bachelor's Degree
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1. Taxpayer has a non working interest in mineral & gas
1. Taxpayer has a non working interest in mineral & gas wells. They receive royalty income and lease payments. They would like to give themselves a salary and put some money into a 401K plan, as they … read more
Robin D.
Robin D.
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S-Corp Shareholders....there are 6 shareholders total. Two
S-Corp Shareholders....there are 6 shareholders total. Two are active with a 40/20 ownership. The rest are 10% just investors. On the K-1's is it right to say it's Income is nonpassive for all shareho… read more
Phillip Bell, EA
Phillip Bell, EA
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I live in New Jersey and own an S-Corp based in the same state.
I live in New Jersey and own an S-Corp based in the same state. I am the owner and there are no employees. My health insurance was purchased by me personally as no companies (that I know of) will sell… read more
Lev
Lev
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S-Corp owners Health Insurance. Company pays Life, Cancer,
S-Corp owners Health Insurance. Company pays Life, Cancer, Health, Vision, Critical Illness, and Dental for owners and salary employees 100%. Question, as an S-Corp owner, are all of the coverage allo… read more
Lev
Lev
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I have a client who owns an S corp. They were eligible for
I have a client who owns an S corp. They were eligible for a the health insurance tax credit from form 8941. The info flowed to their k1 and it was put on their 1040. The IRS reduced my clients refund… read more
NPVAdvisor
NPVAdvisor
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Master's Degree
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I have few tax related questions and would be great if you
I have few tax related questions and would be great if you could answer them for me. Let me present to you the scenario. Let's say, I am currently on H1B visa. I form new LLC with my friend who is US … read more
Lev
Lev
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Looking to set-up a s corp and charge a management fee to the
Looking to set-up a s corp and charge a management fee to the current c corp. that exists. Would change the corp from c to s but it has a large operating loss and dont want to lose that. Want to set-u… read more
DanielleCPA
DanielleCPA
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On an S Corp an individual receives "compensation of officers".
On an S Corp an individual receives "compensation of officers". Is this put on his personal return and if so what line?… read more
Phillip Bell, EA
Phillip Bell, EA
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LLC Owners medical insurance premium. Is it deducted on form
LLC Owners medical insurance premium. Is it deducted on form 1040 or 1065. For a s corp owner I include it in wages and then deduct it in form 1040 correct? How is it done for llc owners?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a client who is a shareholder in an S corp, he has self
I have a client who is a shareholder in an S corp, he has self employed health insurance and is over 65, so he also pays Medicare Part B and his SS...can I add that to page 1 of the 1040 as self emplo… read more
winktax
winktax
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I am trying to set up a client who is a 100% shareholder/owner
I am trying to set up a client who is a 100% shareholder/owner of an S-Corp. She has paid her medical health insurance premiums out of her S-Corp bank account for the entire year for a total of $6372.… read more
Jax Tax
Jax Tax
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This is somwhat the same question as I have asked earlier.
This is somwhat the same question as I have asked earlier. But want to clarify something. We are an LLC with 4 equal partners as drawn up in our initial contract. Each of there shares were awarded to … read more
Charles Greiner
Charles Greiner
Owner
Bachelor's Degree
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I was laid off in January 2009 from my previous employer and
I was laid off in January 2009 from my previous employer and has been paying COBRA for health insurance ever since. I formed a Delaware LLC in January 2009 and hired myself as an employee since Februa… read more
Lev
Lev
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