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Lev, For partner health insurance should this be listed as
Lev,For partner health insurance should this be listed as guaranteed payments on K-1 (1065)? On 1040 this would increase self employment income but would be an adjustment to income to arrive at taxabl… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Can a closely held business deduct health insurance for the
Can a closely held business deduct health insurance for the partners without offering health insurance to the regular employees? … read more
emc011075
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If I have an amount on form K-1 (1065) box 13M for health
If I have an amount on form K-1 (1065) box 13M for health insurance. Does that get deducted on form 1040 line 29?From a tax perspective my self employment income is higher by this amount but the amoun… read more
Lane
Lane
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My client has LLC (partnership tax treatment). Based on the
My client has LLC (partnership tax treatment). Based on the operating agreement one of his partners needs to be reimbursed for health insurance. 1. In 2015 partnership did not have any income (only ex… read more
Lev
Lev
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What are the new laws on the Medical reimbursement plan? I
What are the new laws on the Medical reimbursement plan? I have an LLC that pays for the health insurance premiums for the partners and and 1120S reimbursing shareholders for the medical bills. Is it … read more
Lev
Lev
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Where to deduct a rental real estate partners'(Form 8825)
where to deduct a rental real estate partners'(Form 8825) medical insurance premiums? where does one enter real estate rental partners' (Form 8825) medical insurance payments… read more
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Per IRS memorandum #201228037 dated May 1, 2012, UILC 162.07-31,
Per IRS memorandum #201228037 dated May 1, 2012, UILC 162.07-31, the Spouse's medicare insurance may be included in the Self employed taxpayer's health insurance as adjustment to income line 29, Form … read more
Robin D.
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I have 3 buildings (3 addresses) of rental properties to
I have 3 buildings (3 addresses) of rental properties to claim. The pickup truck is registered under company name, I use it for snow shovel, trash removal, repairs and maintenance for all 3 places. I … read more
emc011075
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A multi member LLC pays health insurance premiums on behalf
A multi member LLC pays health insurance premiums on behalf of one of its members. Where are these payments reported on Form 1065?… read more
Lev
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Am I correct in assuming any payment for medical insurance
Am I correct in assuming any payment for medical insurance for the employees of a partnership, LLC, corporation or sole proprietor is a tax deductible expense? I an not sure if the partners or the own… read more
Megan C
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Are “guaranteed payments” on Form1065 taxable to a partner?
How is “guaranteed payments” on Form 1065 taxable to a partner? I manage an LLC (let's call it A, LLC), which is taxed as a partnership (files 1065). Both partners are other companies (B, LLC and C, L… read more
Lev
Lev
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Bachelor's Degree Equivalent
33,903 satisfied customers
I have a client who is a therapist and collects social security.
I have a client who is a therapist and collects social security. Can I use the $1158 she pays for medicare as self employment insurance expense instead of on schedule a subject to the 7.5% floor>… read more
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I am a self employed consultant. 1) Can I deduct my health
I am a self employed consultant. 1) Can I deduct my health insurance? My insurance is a group plan for retirees of my former employer. I think I read that it can't be deducted if is a group plan. Note… read more
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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
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Lev
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When making journal entries to adjust a Partnerships books,
When making journal entries to adjust a Partnerships books, does it make a difference for reporting and ax return purposes if I show money drawn by the 2 partners as guaranteed payments or net profit … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have an 8825 to do for a partnership, one of the partners
I have an 8825 to do for a partnership, one of the partners provided management fees, I 1099'd her, but I think it should be a guaranteed payment....I only see this on page 1 of the 1065 not on the 88… read more
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I have recently started a partnership in which I am a 50% owner.
I have recently started a partnership in which I am a 50% owner. My partner and I are paying cobra to our previous employer. Can we pay the cobra premiums directly from our new partnership or must the… read more
BK-CPA
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I own a small business (an LLC) which is member-managed. The
I own a small business (an LLC) which is member-managed. The business provided me with health insurance as the manager through 4/07 (we had to drop our insurance because we could no longer afford it a… read more
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