Can I reimburse myself health insurance costs from my company?
February 28th, 2007 | by health |
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.
CAROL
12 Responses to “Can I reimburse myself health insurance costs from my company?”
By v b on Mar 1, 2007 | Reply
No.
The insurance through your husband’s employer does not meet the test of having been established through the S-corp.
By taxreff on Mar 3, 2007 | Reply
Once again, VB gives the correct answer. While the IRS has recently expanded the definition of the “established in the company name” standard, since the policy comes from your husband’s employer it still does not qualify.
As a side note, officer health insurance cannot be directly deducted by an S corporation for more than 2% owners. There is a convoluted method used to get the deduction, but again you would not qualify.
By Facebook Login Page on Nov 8, 2010 | Reply
I’m having a tiny issue I can’t make my reader pick up your feed, I’m using google reader fyi.
By bh seo forum on Nov 8, 2010 | Reply
I agree, tyvm for sharing this..
By justin bieber game on Nov 8, 2010 | Reply
Is it alright to put part of this on my site if I post a link back to this site?
By Business Search on Nov 9, 2010 | Reply
TY a ton for posting, it was unbelieveably informative and showed me tons
By live football on tv on Nov 10, 2010 | Reply
I’m having a strange problem I cannot subscribe your rss feed, I’m using google reader fyi.
By cash back shopping on Nov 10, 2010 | Reply
Thank you, nice post! Just the stuff I needed to get.
By stock pins on Nov 10, 2010 | Reply
TY, wonderful job! Just what I needed.
By pikavippi on Nov 12, 2010 | Reply
Thanks a lot for putting this up, it was very helpful and told quite a bit
By paid surveys uk on Nov 22, 2010 | Reply
Totally disagree
By Ephedrin on Dec 9, 2010 | Reply
what’s The strongest ephedrine pill going on The market? I’m seeking To garden shed A few pounds in the time of on season knowledge. What could be A few powerful ephedrine Based dieting pill?