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The sole stockholder & only employee of an S Corporation was
The sole stockholder & only employee of an S Corporation was previously covered under his spouse's health insurance. He recently turned 65 & is now on Medicare. Is it possible for the S Corp to pay th… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,692 satisfied customers
Alex, We spoke yesterday. I have a solo S-corp and I'm
Hi Alex,We spoke yesterday. I have a solo S-corp and I'm trying to figure out a way to save money on taxes with respect to my health care bills.So far this year I have $6000 of health related expenses… read more
ALEX O
ALEX O
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A 2% shareholder has the employer paid health insurance
A 2% shareholder has the employer paid health insurance added to wages. The shareholder also makes an "employee" payment for the health insurance premium. Can the shareholder deduct as self employment… read more
Mr. Tax
Mr. Tax
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Master's of Science
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I have a client who is an electrician. The used to be taxed
For LaneHi Lane,I have a client who is an electrician. The used to be taxed as an LLC (sole member) For 2018 he elected to be taxes as an S-Corp and all of the proper paper work has been filed. He pai… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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A Sub S sole shareholder is being reimbursed for health
A Sub S sole shareholder is being reimbursed for health insurance by the Sub S.1 - Is the reimbursement allowed? 2 - Can the Company deduct it and include on the sole shareholders W-2? 3 - If so, it i… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,692 satisfied customers
I am the sole 100% owner of a C-Corp. Can my C-Corp pay
Second opinion] I am the sole 100% owner of a C-Corp. Can my C-Corp pay myself and my dependents health insurance premiums directly and deduct those premiums as a business expense? Also, I have 2 full… read more
emc011075
emc011075
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Bachelor's Degree
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I am doing Corp and Pers returns for a client. Corp paid
I am doing Corp and Pers returns for a client. Corp paid Health Insurance for two employees, one a 98.5 % shareholder and other a 1.5% shareholder. Want to make sure deductions and w-2s are correct. F… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
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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 Equivalent
35,692 satisfied customers
Health insurance premium and S corporation. My wife and I work
Health insurance premium and S corporation. My wife and I work in an S corp. I am the 100 % shareholder of the S corp. Will it be beneficial for me to buy health insurance from the business or directl… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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Hi Lev; I hope you are well today. I have a question regarding
Hi Lev; I hope you are well today. I have a question regarding who is considered an employee for purposes of form 8941, Credit for Small Employer Health Insurance Premium. Specifically, do I include t… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
23,013 satisfied customers
How do I report medical insurance premiums paid by a Sub S
How do I report medical insurance premiums paid by a Sub S Corp for a >2% shareholder if they did not receive any salary or paychecks in that year? I know it's supposed to go on a W-2 but how if th… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,692 satisfied customers
How much money can I spend on personal life insurance, in terms
How much money can I spend on personal life insurance, in terms of PREMIUMS that can be declared as a tax deduction as a sub chapter s corp. Some agents insist that I can deduct up to $50,000.00 yearl… read more
Anne
Anne
Master Tax Preparer
2,601 satisfied customers
I have an S-Corp client who is the only shareholder. She pays
I have an S-Corp client who is the only shareholder. She pays for her own helath insurance but the checks are paid out of her personal account. Is it ok for me to deduct these as healthcare premiums o… read more
winktax
winktax
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Master's Degree
425 satisfied customers
What is the rule on Medical expense deduction in a S corp for
What is the rule on Medical expense deduction in a S corp for 30% (voting) and 10% (non voting) owners? Thanks… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,692 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
2,290 satisfied customers
My wife has quit her job so now we dont have health insurance.
My wife has quit her job so now we don't have health insurance. I own my own business (S-corporation), so now my options are either buy health insurance as an individual, or have my corporation buy in… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,692 satisfied customers
I have two 1120S, 2007 & 2008. They were completed by two
I have two 1120S, 2007 & 2008. They were completed by two different accountants. In year 2007 all medical insurance premiums were treated as a business expense. In year 2008 the premiums were not a bu… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
#1 My husband & I personally paid for our health insurance
#1 My husband & I personally paid for our health insurance premiums. We were not reimbursed by the company that we own, so it was not an expense to the company (an S Corp), and the amount ($4,959) was… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,692 satisfied customers
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