Health Insurance deduction
Health deductions for single-member LLC
Submitted by Anonymous on Mon, 2010-03-01 13:24.Hi,
I've just started a single-member LLC (disregarded entity) and I am on a COBRA plan from my previous employer. I have the following questions:
1. Should my LLC pay the COBRA premiums?
2. Can those premiums be deducted on my taxes?
3. Can other medical expenses be deducted, paid by me (not the LLC)?
I did look to see if this is already answered on your forums, but didn't find it ... hope I'm not making you repeat information.
Thank you,
Susana
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Health Insurance deduction for Single employee S-Corp
Submitted by Anonymous on Tue, 2007-12-11 18:20.Very very helpful tax advice - Thank you so much -
I want to see how I can deduct my personal health insurance premium before tax ? I own 100% of my an s-corp with just myself as employee. I pay 820$ for my family HI premium that is in my name . I get a W-2 from my S-corp. Can I re-imburse my HI premium by voucher ( and this willnot appear in my W-2 and will be calculated under my business expense ) - I can write a hiring offer saying that in addition to my salary I can RE-IMBURSE upto 900$ for HI premium for family. Show this amt as a business expense and it will not come in my W-2 . Is this allowed by IRS ?
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