This starts with a pretty basic question related to employers deducting their employee fringe benefits. For simplicity, let's say it's a sole proprietor who has employees, filling out his Sch. C.
Let's say he has a cafeteria plan for his employees, including health insurance and dependent care benefits. The employees have the choice of bypassing...
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Deduct Transit passes, other benefits?
Last edited by ValRose; 12-30-2018, 01:53 AM. -
Taxation of life insurance premiums for S corp shareholder
A sole owner of S corp pays his life insurance premiums (he is the insured) from his corp account. He is the owner of the policy and his wife is the beneficiary. My understanding is that this is not a tax deduction for the S corp, nor is it a fringe benefit for the shareholder. If anything, the IRS may say it is a dividend, distribution or compensation...