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Gary Bode, CPA: deducting your health insurance premiums on IRS Form 1120-S circumvents the 7.5% threshold on Schedule A, Form 1040. For a free initial phone consult call 399-2705. Recent IRS rules now allow a single shareholder S Corporation to deduct their health insurance premiums as a company expense on IRS Form 1120-S / NC CD401S. . . . → Read More: Health Insurance Coverage in S Corps | Form 1120-S and NC CD-401S discussed by Wilmington NC CPA Gary Bode, CPA: NC 401S deserves as much consideration as IRS tax Form 1120-S. If you'd like a free initial consult, please call us at 399-2705. Federal S Corporation tax return preparation, on IRS Form 1120-S, allows pass through of profit to the underlying shareholder’s Form 1040. 18 States follow the federal example, or just don’t . . . → Read More: Wilmington CPA Firm Comments on NC S Corporation Tax Return Considerations Losses on property distributions can never be claimed on IRS Form 1120-S S Corporations are usually closely held with only a few shareholders. Property often passes from the S Corporation to the shareholders. Technically cash is property, but let’s make it interesting with a IRS Form 1120 S / NC CD 401S example utilizing land. As in all . . . → Read More: IRS Form1120S Tax Preparation | Property Distributions in S Corporations |
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Copyright by Gary Bode, CPA © 2011 Gary L. Bode, MSA, CPA, pc -Disclaimers- All Rights Reserved |
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