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I would like to expand my previous question into one more
Hi Barbara, I would like to expand my previous question into one more specific issue, related to my partners high deductible HSA plan.Some background to put the questions into context, our engineering… read more
Barbara
Barbara
Enrolled Agent
7,093 satisfied customers
Lev, For a 100 percent shareholder of S corporation with no
Good afternoon Lev, For a 100 percent shareholder of S corporation with no other employees in the corp, could he write in the minutes, that he decides as the corporate main officer that the corporatio… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My wife has sub chapter S corp cleaning business. Can she
my wife has sub chapter S corp cleaning business. Can she deduct health care expenses for her daughter? Can she deduct dormitory and text books for her daughter? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Do you answer tax questions for a fee? I own 100% of a Sub-S
I own 100% of a Sub-S corp. My agi in 2016 is about73,000. My wife & I were on the Health exchange this past year year and received a monthly subsidy, but still paid nearly 2,000 our of pocket for Health Insurance. We take the entire 73,000 as a distribution and pay no soc. sec tax. Can I still take the 2,000 deduction on line 29 of the 1040? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I'm uncertain how to deal with health insurance premiums in
Hi, I'm uncertain how to deal with health insurance premiums in terms of getting a deduction on my taxes. I'm a single owner S corp and currently paying for my premiums out of pocket as an individual … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
We own a business that is an S-Corp. My husband is on
We own a business that is an S-Corp. My husband is on medicare, but we are paying our health insurance premiums on me, out of pocket. Is it possible for us to have the business pay for my health insur… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have an S-Corp which I am 100% Shareholder. My spouse is
I have an S-Corp which I am 100% Shareholder. My spouse is the only employee of my S-Corp. I have no plans on hiring other employees.How do I ensure Health Insurance Payments and HSA Contributions mad… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Regarding HSA plans - as far as I know as as I'm on any plan
Regarding HSA plans - as far as I know as long as I'm on any plan with a "high deductible" I can contribute to an HSA and it doesn't have to be a plan with the word "HSA" in its title? Also, as a self… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
A taxpayer is a 100% stockholder in an S Corporation. The
A taxpayer is a 100% stockholder in an S Corporation. The health insurance premiums paid by the Corp on his behalf are included in his wages & he deducts them on line 29 of Form 1040. He also has an H… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Any elaborations of these helpful ways to defer taxes? -Companies
Any elaborations of these helpful ways to defer taxes? -Companies invest in state & municipal bonds (exempt from taxes on interest earned) – how much do companies usually invest to get a good yield to… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
RE: HSA Can a >2% Shareholder whose health insurance premiums
RE: HSA Can a >2% Shareholder whose health insurance premiums are in Box 1 W2 also open an HSA and have the contribution be included in Box 1 W2 since the company will pay? Would it be advised that… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have a client who is a more then 2% shareholder in her S
I have a client who is a more then 2% shareholder in her S corporation. She and he husband have an HSA in which she has contributed and the company has matched. Is there reporting such that she will a… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have an S Corp. This is my only source of income- a small
I have an S Corp. This is my only source of income- a small consulting business. My wife works part-time for another company as well as for my company. We both have insurance plans utilizing an HSA. W… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
employer paid portion of an HSA for a more then 2% shareholder,
employer paid portion of an HSA for a more then 2% shareholder, should that be treated like a health insurance premium subject to w2 wages???… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am an owner of a one person scorp. I have a high deductible
I am an owner of a one person scorp. I have a high deductible health plan. Can I deduct medical and dental expenses. Do I need to set up a fsa or hra or hsa? If so, which is best for my situation and … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
What are the requirements for a greater than 2% shareholder
What are the requirements for a greater than 2% shareholder to have the Sub S contribute to their HSA account, other than out-of-pocket limits, minimum dedctible and maximum contributions and included… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,165 satisfied customers
As an owner of a Sub Chapter S Corporation and looking at adding
As an owner of a Sub Chapter S Corporation and looking at adding an HSA to our health insurance offering can I contribute to my HSA Savings Account personally (no company contribution) on a pre tax ba… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
An employee/officer of S corp was hurt on the job.
An employee/officer of S corp was hurt on the job. They do not have workers comp insurance and his health insurance is covered through his wife. Can the S corp pay the hospital bill for the employee/o… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
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