Oct 24
Can I reimburse myself health insurance costs from my company?
Posted on Saturday, October 24, 2009 in United States
Jackie S asked:
We used to have individual health insurance, and I would pay for it out of my own company (an S Corp). When we got insurance through my husband’s employer, I stopped reimbursing myself.
He is paid for by the company, and then it costs extra to add myself and our child.
We used to have individual health insurance, and I would pay for it out of my own company (an S Corp). When we got insurance through my husband’s employer, I stopped reimbursing myself.
He is paid for by the company, and then it costs extra to add myself and our child.
I was just going to deduct health insurance premiums on our Sch A, but we don’t have enough other medical expenses to meet the limit.
Is it ligit to go ahead and reimburse myself the amount that it cost for the health insurance? Then it would be a business expense. Thanks.
Leslie
Jun 21
how can i tell if my health insurance benefits are pre taxed?
Posted on Sunday, June 21, 2009 in United States
montcoguy0o asked:
Keep in mind, your health insurance premiums can’t be deducted if they’re taken out of your paycheck as pre-tax dollars. However, after-tax health insurance premiums are deductible, but they still are subject to a limitation of 7.5% of your AGI. If you’re self-employed, you may deduct a portion of your health insurance premiums as an adjustment. The self-employed deductible portion is 100% in 2007.
Leon
Keep in mind, your health insurance premiums can’t be deducted if they’re taken out of your paycheck as pre-tax dollars. However, after-tax health insurance premiums are deductible, but they still are subject to a limitation of 7.5% of your AGI. If you’re self-employed, you may deduct a portion of your health insurance premiums as an adjustment. The self-employed deductible portion is 100% in 2007.
Leon
Apr 30
How do health insurance tax deductions work for a member managed LLC?
Posted on Thursday, April 30, 2009 in United States
prizice24 asked:
I own a business (LLC) with two other people. It is only us three; we do not have any additional employees. We pay for our health insurance through our business. Based on these facts, I was wondering how much I stand to save on my personal taxes. Is this a standard write off like any other business expense or does the IRS treat health insurance differently?
Arthur
I own a business (LLC) with two other people. It is only us three; we do not have any additional employees. We pay for our health insurance through our business. Based on these facts, I was wondering how much I stand to save on my personal taxes. Is this a standard write off like any other business expense or does the IRS treat health insurance differently?
Arthur
Dec 26
Are health insurance premiums that I pay and are deducted from my paycheck paid with after-tax dollars?
Posted on Friday, December 26, 2008 in United States
davidgherron asked:
My health insurance is through my employer but I have to pay part of the premium and it is deducted from my paycheck each pay period. I am filing my taxes and am being asked if the premiums are paid for with after-tax dollars. Any answers?
Ruby
My health insurance is through my employer but I have to pay part of the premium and it is deducted from my paycheck each pay period. I am filing my taxes and am being asked if the premiums are paid for with after-tax dollars. Any answers?
Ruby
Nov 23
health insurance?
Posted on Sunday, November 23, 2008 in United States
chan_jay asked:
My company allow me to buy my parent’s health insurance with me. can i include that amount into my itemize deduction? even though my dad file his own tax return; my dad is not a dependent on my tax return;
Justin
My company allow me to buy my parent’s health insurance with me. can i include that amount into my itemize deduction? even though my dad file his own tax return; my dad is not a dependent on my tax return;
Justin
Jun 27
Am I able to write off Health Insurance Premiums for tax purposes at the end of the year?
Posted on Friday, June 27, 2008 in United States
Marcus W asked:
I am looking to purchase my own health insurance instead of going through my company. I know that the company takes out the cost on a pre-tax basis, but their insurance is not the greatest. If I do decided to sign up for health insurance, will I be able to use the cost of my own health insurance as a deduction fo tax purposes?
Frederick
I am looking to purchase my own health insurance instead of going through my company. I know that the company takes out the cost on a pre-tax basis, but their insurance is not the greatest. If I do decided to sign up for health insurance, will I be able to use the cost of my own health insurance as a deduction fo tax purposes?
Frederick