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Self Employed Health Insurance Insurance Deduction: Worksheet v. IRS Publication 535

If you qualify to take the deduction, use the Self-Employed Health Insurance Deduction Worksheet to figure the amount you can deduct. However use IRS Publication 535 instead if any of the following applies. You had more than one source of income subject

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Posted in Deductible Expense, Health Insurance, Partnership, Self Employ, Small Business, Sub-chapter S

Small Employer Health Insurance Credit 2011 – IRS Form 8941

The small employer health insurance credit is applied for on IRS Form 8941.  The credit itself is based on the non-shareholder staff, their hours worked, wages and the premiums paid for them. The hours worked, wages and health insurance premiums

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Posted in Health Insurance, Self Employ, Small Business, Tax Credit

Small Business Health Insurance Credits-Patient Protection-Affordable Care Act 2010

The Tax Credit for Employee Health Insurance Expenses of Small Employers is part of the Patient Protection and Affordable Care Act which was signed into law in March of 2010.  The Act makes a credit available to small employers who

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Posted in Business Expense, Disallowed Expenses, Health Care Tax Credit, Health Insurance, Self Employ, Small Business, Sub-chapter S, Tax Credit, Tax Deductible Expenses, Tax Relief

Self Employed Health Insurance Tax Facts

When signing up for a health insurance plan registered under your business, the business may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents if you are

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Posted in Health Insurance, Self Employ

Self Employed Health Insurance Deduction

For tax year 2010, a self-employed taxpayer will be eligible to claim a self-employed health insurance deduction on Line 29 of Form 1040. Additionally taxpayers also receive a corresponding deduction when calculating self-employment taxes. When calculating self-employment tax, taxpayers can

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Posted in Health Insurance, Self Employ

Health Insurance Premiums: Tax implication for the self employed – example

A tax payer is the 100% owner/employee of an S corporation that she started in 2010. She only wants to take $2,000 in wages for the first year. In addition, she would like the S corporation to pay for her

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Posted in Personal Service Corporation, Self Employ, Small Business, Sole Proprietor, Sub-chapter S, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Problems & Requests
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