Everyone thinks payroll is a piece of cake; write a check and done. Nope… we see a lot of mistakes being made by small business owners especially the handling of self-employed health insurance and HSA contributions since there are special rules for greater than 2% S Corp shareholders. Then...
Health Care378,14751,55375,38259% There you go. Remember that officer compensation includes all fringe benefits such as self-employed health insurance and HSA contributions, and it might be influenced (increased) by those who want to maximize 401k deferrals and/or defined benefits pensions. In ot...
see: https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical... "Health and accident insurance premiums paid on behalf of a greater than 2-percent S corporation shareholder-employee are deductible by the S corporation and re...
Owner-employees can also participate in company benefit programs, including 401K and profit-sharing plans. However, some employee benefits like medical and life insurance can be taxable if an employee owns more than two percent of the company. ...
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You need to attach Form 8941- Credit for Small Employer Health Insurance Premiums. If you’re self-employed (which is most likely the case as an owner of a small business), you can also deduct the premiums for your spouse and dependent children. Outrageous deductions successfully made by ...
Jim McNasby's life at 30 was something from the finale of a happy-ending comedy or the opening scene of a story that was going to get much worse before it could get better. He was a Harvard Law graduate, employed by the world's leading insurance broker and risk advisor, doing work ...
Everyone thinks payroll is a piece of cake; write a check and done. Nope… we see a lot of mistakes being made by small business owners especially the handling of self-employed health insurance and HSA contributions since there are special rules for greater than 2% S Corp shareholders. Then...