Health ins premium and medical expence deductions for 2014 My CPA tells me that we as a C corporation can no longer deduct our health ins premiums or medical expenses for 2014. My wife and I each own 50% of the corp.We live in Minnesota. We are salaried employees of the corp. We have one non family employee. We have individual health plans for ourselves and our employee. Which the corp has paid 100% of the health ins premium as well as 100% of all medical expenses incurred by the salaried employees( my wife and I ). We have not paid any medical expenses incurred by our nonfamily employee, but have paid his health ins premium. Under the new Obamacare health plan legislation, I believe we are supposed to provide a group coverage health plan, which costs considerably more than our individual plans, as well as subject us to huge premium increases, and we have to pay our nonfamily employee's medical expenses. If we don't follow these new rules, we are subject to substantial fines. Is this correct? If so, is their a way around this? I searched for and read a similar post, but it applied to 2013, before "OBC" . |