Health Insurance Deductions for S Corporation Owners: How to Maximum Benefits #accountingtips
10 months ago
For S Corporation owners, claiming health insurance deductions comes with its unique steps.
📌 As an S Corporation, you're an employee of your business, meaning the straightforward Schedule 1 deduction isn't an option.
Instead:
1️⃣ Ensure the S Corp covers the insurance costs.
2️⃣ If paid personally, use an accountable plan to get reimbursed.
3️⃣ Add those insurance costs to your W2 payroll as an S Corp owner's self-employed health insurance.
Always communicate with your payroll provider, ensuring they're well-informed of your 2% ownership in the S Corp and guide them on adding these premiums to your W2. Navigating the nuances can maximize your benefits! 💼
Loading comments...
-
LIVE
Right Side Broadcasting Network
4 days agoLIVE REPLAY: Trump Addresses the National Board of the Fraternal Order of Police in NC - 9/6/24
3,899 watching -
LIVE
Akademiks
1 day agoRich Homie Quan Passes away at 34 Years Of Age. Young Thug, Carti, Quavo and others REACT!
3,699 watching -
1:02:57
The StoneZONE with Roger Stone
4 hours agoTop DOJ Official Admits Trump Prosecutions are Politically Motivated! w/ Mark Vargas | The StoneZONE
5.49K9 -
2:04:21
Bare Knuckle Fighting Championship
3 days agoCountdown to BKFC 65 FEREA VS MASSON-WONG and FREE FIGHTS!
15.5K1 -
1:24:34
Edge of Wonder
4 hours agoNASA Hacker Says Aliens Are Real & Blueprints for Antigravity Craft
9.53K -
1:39:03
2 MIKES LIVE
3 hours ago2 MIKES LIVE #113 OPEN MIKE FRIDAY!
19.3K3 -
1:30:44
Steve-O's Wild Ride! Podcast
1 day ago $8.19 earnedThe Worst (And Best) Ways To Die - Wild Ride #231
69.3K3 -
7:30
The Gun Collective
8 hours agoMy Speech to THOUSANDS of Gun Owners.
21.6K9 -
7:11
Game On!
4 hours agoLonghorns look to end Wolverines' winning streak: Texas at Michigan Preview with Robert Barnes
20K1 -
5:09:06
HazyGaming
7 hours agoHalo Infinite
19.8K2