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S Corporation Compensation and Medical Insurance Issues ...

    https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues
    The bottom line is that in order for a shareholder to claim an above-the-line deduction, the health insurance premiums must ultimately be paid by the S corporation and must be reported as taxable compensation in the shareholder's W-2. [1] Information downloaded from: https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and …

How to add S-corp owner's health and life insurance to wages

    https://quickbooks.intuit.com/learn-support/en-us/employees-and-payroll/how-to-add-s-corp-owner-s-health-and-life-insurance-to-wages/00/205324
    Dec 11, 2018 · I can help ensure your S-Corp Owners Health Insurance premium is properly recorded, so it will be reported on the W-2 form. If you’re using the desktop version, you’ll need to first create the payroll item and enter a liability adjustment to properly record the premium.

Deducting Health Insurance With an S Corporation Nolo

    https://www.nolo.com/legal-encyclopedia/deducting-health-insurance-with-s-corporation.html
    The amount of the premiums must be included in your employee wages on your annual Form W-2, and you must include the amount as wages on your Form 1040. Your S corporation deducts the amount as employee compensation on its own return. You must pay income tax on the health insurance premium payments made by your S corporation.

S-Corporation Officer Health Insurance - ASAP Help Center

    https://support.businessasap.com/article/261-s-corporation-officer-health-insurance
    Oct 22, 2019 · Medical Insurance Premiums As Wages: The cost of any health, dental, vision, supplemental/AFLAC, & long-term care premiums and often HSA contributions paid by the s-corporation on behalf of a shareholder are deductible, so as long as the company has fulfilled the requirement to report amounts on the officer's W2. The amount increases the officer's Federal & …

How to Deduct Shareholder Health Insurance for S Corporations

    https://amynorthardcpa.com/how-to-deduct-shareholder-health-insurance-for-s-corporations/
    Your business reports the amount of the premiums as part of your gross wages on your Form W-2. The premiums the business paid can be deducted on your Form 1040 (line 29) and as a business expense on Form 1120S. Your health insurance premiums paid by your business are included in your gross wages on your W-2.

Wage Compensation for S Corporation Officers

    https://www.irs.gov/pub/irs-news/fs-08-25.pdf
    The health and accident insurance premiums paid on behalf of the greater than 2 percent S corporation shareholder-employee are deductible by the S corporation as fringe benefits and are reportable as wages for income tax withholding purposes on the shareholder-employee’s Form W-2. They are not subject to Social Security or Medicare

Entering S Corporation Officer Health Insurance No ...

    https://proconnect.intuit.com/community/form-1065/help/entering-s-corporation-officer-health-insurance-not-report-on-w/00/4022
    Dec 06, 2019 · Lacerte does not have a specific input field for Officer Health Insurance not reported on a W-2 as it could be handled two different ways. The health insurance could be entered as a deduction on the Form 1065, page 1 , on either line 8 or line 9.

PPP Update: Two New Rules for Owners of S and C Corporations

    https://barefootaccounting.com/2020/09/01/ppp-update-two-new-rules-for-owners-of-s-and-c-corporations/
    Sep 01, 2020 · His 2019 W-2 shows $140,000 in Box 1 of his W-2, of which $20,000 is for health insurance. In addition, the S corporation pays state unemployment taxes of $500 on John’s income and contributes $20,000 to his pension plan. Based on the facts in the example, the corporation is eligible for up to $25,000 of PPP loan forgiveness, as follows:·

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