If you own an S corporation, getting a deduction for your health insurance can be a tricky business.
As you may have already discovered, the tax rules governing health insurance can be extremely confusing. Which is why I urge you to take a look at the easy-to-understand flow chart that I’ve created and featured in my new article.
Want to see at a glance how to get the biggest tax deduction possible? Check out the flow chart you’ll find in my new article titled Tax Tips: Clarifying Flow Chart for S Corporation Health Insurance.
Three ways our fact-filled article can help you:
- You’ll see the path to follow if YOU personally pay for your health insurance . The first thing you’ll need to do is have your S corporation reimburse you. You’ll get all the details when you read the full article.
- You’ll see the path to follow if your CORPORATION pays for your health insurance. You’ll have to act differently depending on whether you did or did not “discriminate” in covering your employees. You’ll see at a glance what to do when you read the full article.
- We’ll tell you how to handle debits and credits. This is an important part of the picture (literally!) and I urge you to get the correct information now. Once you have it right, it’s easy and it’s all there for you when you read the full article.