ark.na...[at]gmail.com wrote:

- quote -

Your "plan" that you "established under your business" is to
pay your's and your remployees' premiums for health
insurance. Hence the S corp can pay his premium or
reimburse him for his premiums, and pay your premium. But
as an S Corp your premium must be expensed off as W-2 wages
(increasing your income, but reducing profit of the S). You
then take the premium as a deduction on line 29 or your
1040. This is all in the Instructions for Schedule A of
1040 and 1120S Instructions. Your "plan" is your plan to
pay premiums, not the actual policies of insurance, which
are not "Plans" (see Webster and read the instructions, not
the IRS papers of no authority nor sense).

ed

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"Benjamin Yazersky CPA" <johndoe[at]nowhere.com> wrote:

- quote -

Though the shareholder, being taxed as a partner, can deduct
the cost of health insurance premiums paid on his behalf.
§162(l).

Stu

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"Benjamin Yazersky CPA" <johndoe[at]nowhere.com> wrote:
- quote -

The S corp can take a deduction however it is income to the
- quote -

heath insuance deductioin on from of 1040 as long as is
properly established plan

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<ark.naren[at]gmail.com> wrote:

- quote -

Not sure where you're getting your tax advice. If you own 5%
or more of the Scorp, the Scorp cannot take a deduction for
your health insurance/

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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My company is an S Corp with 1 employee. I have taken group
insurance for myself and 1 employee. I was able to deduct
the group insurance premium as the business expenses.

I recently found out that individual plans are very cheaper
then group plans.

If I plan to take the individual plan for myself and pay my
premium and employee takes his individual plan and pay his
premium, can I pay the employee's premium to the employee
and claim as the business expenses??? Is it tax deductable.

I have offered the position with the promise of paying his
full health insurnace benefits

Thanks
arknaren

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