I have an S corp that has the husband as the only shareholder/employee. They have medical insurance issued in the name of the company. She keeps his books for him but has never actually been paid for it.
They are having to change insurance companies now. This new insurance company wanted a copy of the 4th quarter UCT-6. So I sent it to her. The insurance company said it has to show her as an employee in order for her to be covered under the insurance policy.
So now I have to figure out how to show her as an employee for last year, at least in the 4th quarter. (She will start getting regular paychecks now) Can I just take one of the draws in December, gross it up and call it wages for her. I realize that I would have to amend the 941, 940 and the UCT-6 to include her wages. Is this the best way to go?
Linda F
They are having to change insurance companies now. This new insurance company wanted a copy of the 4th quarter UCT-6. So I sent it to her. The insurance company said it has to show her as an employee in order for her to be covered under the insurance policy.
So now I have to figure out how to show her as an employee for last year, at least in the 4th quarter. (She will start getting regular paychecks now) Can I just take one of the draws in December, gross it up and call it wages for her. I realize that I would have to amend the 941, 940 and the UCT-6 to include her wages. Is this the best way to go?
Linda F
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