Jun
18
2011
Can you deduct the standard deduction and health insurance premiums?
Posted by admin in WPS Health Insurance, tags: Business Expenses, Distributions, Dividends, health insurance, Health Insurance Premiums, Insurance, S Corp, Standard Deduction, Standard Insurance, Thanks In Advancenkitchen31 asked:
My buddy and I own an LLC (taxed as an S-Corp). Can you deduct business expenses (such as phone) and health insurance premiums AND the standard deduction?
My buddy and I own an LLC (taxed as an S-Corp). Can you deduct business expenses (such as phone) and health insurance premiums AND the standard deduction?
Also, do distributions/dividends have to be distributed equally (if we each own 50%, per say) can he take 60%, and I take 40% of distributions?
Thanks in advance.


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