If you own more than 2 percent of an S corporation and your company pay health care benefits there are laws that dictates your claim to a deduction for health insurance.
We call like to call these laws the three-step health-insurance procedure, and there are tax laws and rules that we must follow in order to Maximize your deduction claims.
You need to get this S corporation health-insurance thing right. there are laws that will prevent the S corporation from taking the tax deduction.
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.