How will the Affordable Care Act effect my small business? Are these benefits deductible from my small business?
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here
Tax Professional Answers
Health insurance premiums paid by your business are a deductible business expense. However, if you are a 2% shareholder-employee in your corporation, your portion of the premium will be added to your W-2 box 1 income. Other expenses paid under the ACA will be deductible. Also look for tax credits for your business.Leave a Comment 396 weeks ago