Medical Insurance Premiums can impact estate planning and financial decisions. Lexern helps clients protect assets with trusted legal guidance.
TREATING MEDICAL INSURANCE PREMIUMS AS WAGES
Heath and accident insurance premiums paid on behalf of the greater than two percent S corporation shareholder-employee are deductible and reportable by the S corporation as wages for income tax withholding purposes on the shareholder-employee’s Form W-2. These benefits are not subject to Social Security or Medicare (FICA) or Unemployment (FUTA) taxes. The additional compensation [...]