Welcome Guest. Register Now!  


For 2010 Tips for tax year 2010.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 12-20-2010, 12:18 PM
Junior Member
 
Join Date: Dec 2010
Posts: 2
single member LLC electing to be taxed as an S-corp

My husband is a single member LLC electing to be taxed as an S-corp and owns more than 2% of the LLC. I understand that he can deduct medical insurance premiums for self, spouse, and dependent for 2010. The insurance plan is under his individual name and he pays for the premiums outside the LLC. Does he need to have the LLC reimburse him or can he just deduct on his 1040? Is he limited to his K-1 amounts for his deduction? What is the process for reimbursement of these premiums?

Thank you,
Sandi



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 12-23-2010, 07:08 AM
Junior Member
 
Join Date: Dec 2010
Posts: 4
no he does not need to have need to have the LLC reimburse . . . !!!
cause he is to be taxed as a S-crop .



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Single Member LLC Non US member pizzamy Limited Liability Company 1 01-16-2010 11:52 PM
Single member llc to two member llc smllc Limited Liability Company 0 01-16-2010 11:49 PM
Single Member LLC Bankruptcy taraadis Limited Liability Company 0 04-02-2008 04:40 PM
Single member LLC Question bobbranner Limited Liability Company 0 02-09-2008 11:31 PM
Can A Single Member Llc Convert To Inc aloke07 Limited Liability Company 0 10-26-2007 09:20 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.