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Health insurance for S-Corp. owner
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not been recently
reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.
Q:
I am the only employee of a subchapter S corporation. How do I handle employer-paid health insurance?
A:
Employer-paid health insurance is a deductible business expense to the S corporation but that same amount is included in your taxable salary from the business and subject to wage taxes. As a consolation, you do get to deduct the cost of this benefit on your 1040 tax return since S-corporation owners are treated as self-employed for this purpose.
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