| Cell: 415 308-0678 Fax: 415 704-3238 Lee@RileyAccounting.net 1001 Bridgeway, #229 Sausalito, CA 94965 Conference room locations; San Francisco Directions Map Sausalito Directions Map San Mateo Directions Map Larkspur Directions Map Walnut Creek Directions Map |
| MEDICAL REIMBURSEMENT PLANS Please choose which plan is best for your business, then sign, date, and fax it to me. In order to be tax deductible, medical reimbursement plans must cover yourself, your spouse (if your spouse co-owns the business), and all of your employees. Plan I. Includes insurance, and unreimbursed medical costs. This plan includes medical insurance, and, pays for many medical expenses that are not covered by medical insurance. Plan II. Covers Insurance only. This plan only covers medical insurance, and, does not cover medical costs that are not reimbursed by the insurance policy. PLEASE SIGN, DATE, AND FAX THE PLAN DOCUMENTS TO ME. ACCOUNTING LOGISTICS If you own more than 2% of the S corp. stock, then, have the corp. pay the medical insurance, and expenses, but add it to Line 1 only of your W-2, also add the costs to line 14 of your W-2. If you are married, hire your spouse and adopt a Section 105, or Section 125 medical plan; you will also need to obtain a Section 105, or 125 plan from your insurance company. If you have employees, all employees need to be covered, also, you need a Third Party Administrator to mamage the plan; so, please ask me about this issue. YOU ALSO NEED TO HAVE THE PLAN ADOPTED BY THE BOARD OF DIRECTOR(S); SO, IF YOU NEED A REFERRAL TO AN INEXPENSIVE ATTORNEY, WHO CAN DO THIS, PLEASE LET ME KNOW, OR DO IT YOURSELF BY GETTING THE CORPORATE RECORDS HANDBOOK FROM WWW.NOLO.COM. With respect to your corporate, medical plan; the legal requirements are constantly changing, and, it is not my area of expertise; it is very important that you contact a professional medical plan administrator; and, if you need a referral, you might first interview Barry Mass, ASI, Administrative Solutions 559-696-5141. The information contained in this web page, and the links, is educational and is not specific tax advice. Some information may be outdated. Privacy Statement. |
 |
| Robert Lee Riley CPA, MBA-tax |
| Riley Accounting |