Uploaded April 2024 | Updated September 2026, 1 week ago
Are you correctly handling health insurance premiums in your S Corporation? I'm Noel Lorenzana, a CPA who not only runs my business as an S Corporation but also specializes in preparing S Corp tax returns. In this video, I explain a frequent mistake S Corp owners make with health insurance premiums. I provide a clear and direct overview of the right way to manage these premiums to ensure you stay compliant with the IRS.
As an S Corporation specialist, I'll show you the proper approach to this issue. If you're an S Corp shareholder, understanding how your position impacts the treatment of health insurance costs is crucial.
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/S6hNWXm7TSU
youtu.be/Z0jtyr3VKQs
youtu.be/QC2XWhulY24
Thanks for watching my video on, What You're Doing Wrong with Health Insurance Premiums in Your S Corp
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - S Corporations Health Insurance: Common Mistakes You Make
02:11 - Step 1. The Company Buys Group Health Insurance
02:37 - Step 2. Let the Payroll Company Know About the Health Insurance Premiums
02:58 - Step 3. When the Employee Shareholder Files Taxes
03:25 - S Corporations: $5,000 Health Insurance Deduction
03:52 - S Corporation: Properly Deduct Health Insurance Premiums
04:28 - If You're Self Preparing Your Own S Corporation Tax Return
Replay Video Link: youtu.be/XGhfc4SulkI
#SCorporation #HealthInsurance
Are you correctly handling health insurance premiums in your S Corporation? I'm Noel Lorenzana, a CPA who not only runs my business as an S Corporation but also specializes in preparing S Corp tax returns. In this video, I explain a frequent mistake S Corp owners make with health insurance premiums. I provide a clear and direct overview of the right way to manage these premiums to ensure you stay compliant with the IRS.
As an S Corporation specialist, I'll show you the proper approach to this issue. If you're an S Corp shareholder, understanding how your position impacts the treatment of health insurance costs is crucial.
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/S6hNWXm7TSU
youtu.be/Z0jtyr3VKQs
youtu.be/QC2XWhulY24
Thanks for watching my video on, What You're Doing Wrong with Health Insurance Premiums in Your S Corp
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - S Corporations Health Insurance: Common Mistakes You Make
02:11 - Step 1. The Company Buys Group Health Insurance
02:37 - Step 2. Let the Payroll Company Know About the Health Insurance Premiums
02:58 - Step 3. When the Employee Shareholder Files Taxes
03:25 - S Corporations: $5,000 Health Insurance Deduction
03:52 - S Corporation: Properly Deduct Health Insurance Premiums
04:28 - If You're Self Preparing Your Own S Corporation Tax Return
Replay Video Link: youtu.be/XGhfc4SulkI
#SCorporation #HealthInsurance
