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- 1. February 2012: Florida State Unemployment Tax Rates 2012
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- 11. January 2012: How Often Does Tax Law Change....
- 26. December 2011: 2012 Payroll Tax Cut Extended 1st Two months
- 27. November 2011: Ballgames - can you deduct?
- 15. November 2011: WHAT IS HIGH DEDUCTIBLE HEALTH PLAN
- 15. November 2011: HSA 2011 Contributions
- 20. October 2011: 2012 Social Security Increase
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Health Insurance for Greater than 2% Shareholder of Sub S
Per IRS Notice 2008-1, Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees, health insurance must be included in the shareholder employee’s 2008 Form W-2 in order to take the self-employed health insurance deduction for shareholder employees owning greater than two percent of the S Corporation.
The requirement existed in prior years but there was a work around… we could include the health insurance on the K-1. In either method the result tax wise is exactly the same… the W2 requirement adds no more revenue to the U.S. Treasury and it takes longer to prepare the year end payroll reports. BUT THAT IS THE REQUIREMENT NOW… if not on W2, no deduction!
There is more information about Sub S Corporations on our website www.USATaxHelp.com
15. February 2009 at 21:16
[…] Per IRS Notice 2008-1, Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees, health insurance must be included in the shareholder employee’s 2008 Form W-2 in order to take the self-employed health insurance …More […]
29. December 2010 at 01:30
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