Read Barbara's bio.
S Corp health insurance deductions
Q: Our S corporation pays health insurance for all its employees (including me). How do we handle this?
A: The corporation can deduct its payment of premiums on behalf of employees, including you. However, if you own more than 2% of the S corporation, you cannot receive this benefit tax free; the corporation must include this amount as compensation to you on your W–2 form. You can then deduct 100% of this amount on your personal return as an above–the–line deduction.
Some issues discussed in the expert forum are complex and continually changing.We recommend you consult a professional advisor about your specific circumstances, needs, and applicable laws. More details.
Ways to Save
Policies
Corporate Information
This Web site is intended for use by US residents only. See International Sites.
*See our delivery policy for full details.
Copyright 2008, Staples, Inc. All Rights Reserved.
Questions? Call 1-800-3STAPLE (1-800-378-2753) or email us at http://www.staples.com/emailus.
