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S Corporations, Health Insurance and Obamacare

So here’s how S corporations need to view (or soon view) their health insurance spending in light of the Affordable Care Act’s penalties. First, to review, while you aren’t required provide insurance for employees unless … See more

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URL: https://evergreensmallbusiness.com/s-corporations-health-insurance-and-obamacare/

10 Obamacare Facts Small Business Owners Must Know

WEBOne final thing you should know about is the ACA’s small business tax credit for health insurance purchased for employees. In a nutshell, if an employer has 10 or …

Category:  Health Go Health

Qualified Small Employer Health Reimbursement Arrangement Rules

WEBView Cart. Money Back Guarantee. As with all of our publications, the Small Businesses and the Affordable Care Act (Obamacare) monograph comes with a money …

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Quick and Easy Small Business Fringe Benefits Packages

WEBSmall Business Fringe Benefits Pension Plan. You can go a bunch of different directions with a pension. But many of those directions cost significant money …

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Payroll Accounting Rules for S Corporation Shareholder Health …

WEBThe first old rule to know: 2% S corporation shareholders do get to take a self-employed health insurance deduction as long as they handle the payroll accounting …

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Ignoring IRS 8995 Instructions to Double-deduct Self-employed …

WEBThe IRS 8995 instructions tell S corporation shareholders to adjust their qualified business income twice for the Section 199A deduction. That will hurt.

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How the IRS Destroyed the Section 199A Deduction for Small …

WEBI’ve got some bad news, unfortunately. The IRS may have destroyed or dramatically reduced your Section 199A deduction. At least if you’re a typical small …

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Setting up a New Jersey S Corporation

WEBOur New Jersey S Corporation kit. To help New Jersey small business owners who decide to take on this modest challenge, therefore, we provide two downloadable kits with …

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199A Deduction: Calculating Your Tax Savings

WEBStep 3: Calculate the Section 199A Deduction. To calculate the actual Section 199A deduction, multiply the smaller value from Step 1 and Step 2 by 20%. For …

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S Corporation Section 199A Deduction

WEBIn this case, the Section 199A deduction tentatively equals 20% of the $60,000, or $12,000. Two, maybe obvious, observations: You look at the K-1 for the …

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The Retirement Saving Section 199A Deduction Connection

WEBFor all S corporations, then, retirement contributions do reduce both qualified business income and taxable income. Congress did in the Section 199A statute …

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Texas, Taxes, and Your Small Business

WEBIn Texas, you only pay unemployment insurance on the first $9,000 of wages for each employee. The unemployment insurance tax rate is based on a number of …

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Section 199A Qualified Business Income Adjustments

WEBThe qualified business income adjustments, or QBI adjustments, taxpayers may need to make in order calculate the deduction. Example: Your business shows a …

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Quick and Dirty Payroll for One-person S Corps

WEBNot every one-person corporation pays or even can pay an annual salary of $40,000 to the shareholder-employee. But a salary of $40,000, it turns out, is roughly the …

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Making Shareholder Distributions Look Reasonable to an IRS Agent

WEBThat said, as a practical matter, you might as well play the game and try to make your distributions look reasonable to any IRS agent employing a “wages and …

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Tax Strategy Tuesday: Convert Guaranteed Payments to Qualified …

WEBOkay. This Tuesday? I’ve got a tax strategy for partnerships. A strategy that can save individual partners thousands in taxes annually. Maybe even starting this year.

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Washington Small Business Payroll Setup Tips

WEBStep 3: Set up Payroll-specific Agency Accounts. Even if you’re going to outsource payroll to a full-service payroll provider (and we really recommend that most …

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Late S Corporation Payroll Hacks

WEBTip #3: Handle any Shareholder-employee Health Insurance Correctly. A quick idea: Be sure you “do” the bookkeeping correctly for any shareholder-employee …

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Paying Zero S Corporation Shareholder-Employee Wages

WEBCompletely updated for 2017, the Five Minute Payroll ebook explains how to do simple cookie-cutter payroll for most one-employee S Corporations using base salary …

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