If you own more than 2 percent of an S corporation, you have to do three things to claim a deduction for your health insurance: 1. You must get the cost of the insurance on the S corporation’s books. 2. Your S corporation must include the health insurance premiums on your W-2 form. 3. You …
Avoid This S Corporation Health Insurance Deduction Mistake Read More »
If you have no taxable income, should you claim the home-office tax deduction? Answer: Yes! Even with no taxable income, you have two for-sure tax benefits from the home office, and you likely have a third benefit.
My name is Angie Toney and I have been a CPA for over 20 years. Welcome to my new blog page where I will be sharing many tax tips and business advice to optimize your growth and minimize your tax liability. I specialize in implementing tax strategies for small business owners. I learn from the …
