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S corporation owners! Deduct all your health insurance premiums

WebWe’ll explain the three important steps you have to follow. It’s very important for you to know who should pay for your premiums, what needs to be reported on your W …

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2023 Health Insurance for S Corporation Owners: An Update

WebThis article on 2023 Health Insurance for S Corporation Owners: An Update provides you with the information you need to make informed decisions on how to handle …

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QBI and Self-Employment Tax Savings for S Corp. as a Partner

WebWith the right S corporation strategy, you can save money on self-employment taxes. This applies to the allowable S corporation pass-through income to …

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How your S corporation can avoid Obamacare penalties

WebThe Affordable Care Act (Obamacare) assesses nasty penalties if your business pays the individual insurance-premiums of your employees. (Under Obamacare, you simply can’t …

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Answers to Five Questions about Section 105-HRA Medical Plans

WebDo you qualify to put a 105-HRA medical plan in place? If you do, or if you’re just thinking about it, you may be making a very smart move. You see, with a Section …

Category:  Medical Go Health

Q&A: 100% Deduction for Long-Term Care Insurance with 105-HRA

WebWe’ll explain who can’t deduct health insurance using the employee-spouse 105-HRA. If you have insurance paid for by an employer, former employer, or through a pre-tax plan, …

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Section 105 Medical Expense Deduction-Plans for Statutory …

WebWhen you create a Section 105 medical plan (as mentioned), you’ll be able to deduct 100-percent of your family’s medical expenses. But that’s not all. You’ll also be …

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How to beat the “discrimination tax” on HSA contributions

WebThe general rule is that employers must make “comparable” contributions to all employees who have a high-deductible health plan (HDHP). Employees are not …

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TCJA Changes Vacant Land Tax Strategies

WebAll these questions and more will be answered when you read the full article. We’ll tell you how to handle interest paid on the vacant lot or unproductive land. That …

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Bradford Tax Institute – Blog

WebApril 18, 2024. An S Corporation“Reasonable Compensation” Alert To get my complete articlewith all the details…. As we’ve mentioned in past issues of the Tax Reduction …

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COVID-19: Significant Payroll and Self-Employment Tax Relief

WebBecause of the terrible problems caused by the COVID-19 pandemic, Congress has decided to provide significant tax relief from payroll and self-employment …

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Warning: Your “personal home” is not your “tax home”

WebIf you are not yet a subscriber, CLICK HERE.You’ll get a no-obligation 7-day FREE trial during which you can read, not only the article above, but all of our helpful tax-saving tips.

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Q&A: Do I Get a 199A Deduction Working Abroad

WebTo qualify for the Section 199A deduction, your business-income must be connected with the conduct of a trade or business within the United States. You’ll also need to split your …

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When is a Partner in a Partnership Considered a 1099 Worker

WebHere’s what can happen to unwary partners. EXAMPLE: In a real estate brokerage, one partner could not deduct real estate expenses (like advertising, staging …

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Pay the PCORI Fee If You Have a 105-HRA, QSEHRA, or ICHRA

WebEvery year, you the plan sponsor must file IRS Form 720 and pay a Patient-Centered Outcomes Research Institute (PCORI) fee. Here’s the story: The fee is due by …

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Selling Your Business: How to sell intangible assets the right way

WebIntangibles included in an asset sale by your corporation, partnership, or multi-member LLC. You can arrange to sell the assets, including intangibles, of a business that …

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Deduct your swimming pool (and more!) as medical expenses

WebThree ways our fact-filled article can help you: We’ll tell you why you and your doctor can get along swimmingly. A pool you install for medical reasons could increase …

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How to Calculate and Improve Your QBI from a Partnership

WebSue is taxed on partnership income that comes to her in the form of guaranteed payments and profit distributions. Profit distributions are QBI. Guaranteed …

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Converting a business asset to personal use

WebThree ways our fact-filled article can help you: We’ll tell you the smart way to plan for the conversion of the asset. When you deal with the IRS, it usually makes sense …

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