Relevant tax tips and updates for small business owners and individuals.
Sunday, August 1, 2010
S Corp Owner "Home Office", Health Insurance, and Salary
Shareholders of S corps, have you started to account for owner/spouse health insurance as wages and ceased claiming use of space in your residence by the corp pursuant to the IRS clarifications issued within the past few years? Are you taking a "reasonable" salary? (Rule #1 of S corp ownership.)