http://insstate.com/articles/2009/07/13/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/ insurance articles, insure articles Fri, 30 Jul 2010 23:19:29 +0000 http://wordpress.org/?v=2.9 hourly 1 http://insstate.com/articles/2009/07/13/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/comment-page-1/#comment-577 HealthQu Tue, 14 Jul 2009 01:58:02 +0000 http://insstate.com/articles/2009/07/13/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/#comment-577 Multiple member LLC's can be taxed 3 different ways: 1. As a partnership 2. As a C corporation 3. As an S Corporation The deductability of health insurance premiums for your LLC will depend on which of the 3 types of entities your LLC elected to be taxed at (the default is the partnership form of taxation). Typically, you will be able to deduct 100% of your health insurance premiums although there are some specials considerations for owner/officers of S Corporations who own more than 2% of the company. If you speak with a CPA or qualified tax advisor they should be able to give you plenty of good tips. One thing that you may want to mention is a medical reimbursement plan. Here is some more detail on medical reimbursement plans: Multiple member LLC’s can be taxed 3 different ways:
1. As a partnership
2. As a C corporation
3. As an S Corporation
The deductability of health insurance premiums for your LLC will depend on which of the 3 types of entities your LLC elected to be taxed at (the default is the partnership form of taxation).
Typically, you will be able to deduct 100% of your health insurance premiums although there are some specials considerations for owner/officers of S Corporations who own more than 2% of the company.
If you speak with a CPA or qualified tax advisor they should be able to give you plenty of good tips. One thing that you may want to mention is a medical reimbursement plan. Here is some more detail on medical reimbursement plans:

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