Webb10 dec. 2024 · Employer-paid group-term life insurance coverage: Up to $50,000 of group-term life insurance coverage is excluded from tax, and any amount in excess of $50,000 … WebbTreating Medical Insurance Premiums as Wages. 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 reportable as wages on the shareholder-employee's …

S Corporation Employees, Shareholders and Corporate …

WebbS corp shareholder health insurance premiums can be deducted for those shareholders who own more than 2 percent of the S corp. The IRS rules for employee fringe benefits … WebbHealth and accident insurance premiums paid on behalf of a 2% S corporation shareholder-employee should be reported as wages on the shareholder-employee’s Form W-2, subject to income tax withholding. In addition, the medical premiums paid by the S corporation for the 2-percent shareholder-employee’s spouse and dependents should also be ... irish jones realty buffalo ny

Set up an S-corp medical payroll item for your corporate officers

Webb18 maj 2024 · For you, a 2% or more S corp shareholder, the Affordable Care Act (ACA) doesn’t affect how you deduct your S corp-provided health insurance benefits. Things … WebbUnder IRS Notice 2008-1, premium payments for accident insurance or health insurance plans for 2 percent shareholders are, for income tax purposes, to be treated as … WebbS corp shareholder health insurance premiums can be deducted for those shareholders who own more than 2 percent of the S corp. The IRS rules for employee fringe benefits dictate that an S corp is treated as a partnership and that any shareholder of at least 2 percent qualifies as a partner. irish judo chloe cowan