Adam Puckett, CPA, Author at Delap CPA

13 Dec

Don’t Forget to Put Your Shareholder Health Insurance Premiums on Your W-2

December 13, 2013 | By Adam Puckett, CPA | No Comments

Health insurance premiums paid on behalf of a shareholder greater than 2%, are deductible and reportable by the S corporation as wages for income tax withholding purposes on the shareholder’s Form W-2. These benefits are not subject to Social Security or Medicare (FICA) or Unemployment (FUTA) taxes. The additional compensation is included in Box 1 […]

Are your charitable gifts really deductible? You might be surprised.

January 18, 2013 | By Adam Puckett, CPA | No Comments

Charitable Contribution Mr. Durden contributed $22,500 to his church and claimed it as a deduction on his individual income tax return. Under IRS audit, Mr. Durden provided the agent with written acknowledgement provided by his church. Slam dunk – right? Not so quick. Let’s review the rules. There must be contemporaneous written acknowledgement from the […]

Adam Puckett, CPA, Author at Delap CPA

13 Dec

Don’t Forget to Put Your Shareholder Health Insurance Premiums on Your W-2

18 Jan

Are your charitable gifts really deductible? You might be surprised.

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