J.K. Lasser's Small Business Taxes 2018

CHAPTER 19 Medical Coverage

1. Health Care Mandates
2. Deducting Medical Insurance for Employees
3. Deducting Health Coverage by Self-Employed Persons and More-Than-2% S Corporation Shareholders
4. Using Reimbursement Plans
5. Tax Credit for Contributions to Employee Health Coverage
6. Shifting the Cost of Coverage to Employees
7. Setting Up Health Savings Accounts (HSAs)
8. Archer Medical Savings Accounts (MSAs)
9. COBRA Coverage
10. Wellness Programs
11. Reporting Health Coverage on W-2s
12. Reporting Health Coverage on Forms 1095

Alert

At the time this book was completed, Congress was considering important tax changes that could affect 2017 tax returns and planning for 2018. Check the online Supplement in February 2018 at www.jklasser.com or www.barbaraweltman.com to see what changes have been enacted and when they are effective.

Medical coverage is an expensive personal expense for most people. So, for many, a job that provides medical coverage offers an important benefit. For the small business owner there is often a need to obtain personal coverage. It may also be good business practice to offer medical coverage as a fringe benefit to attract and keep good employees. A write-off of all or a portion of the cost of medical coverage is a significant cost-saving feature of providing such coverage.

At the time this book was published, the status of the rules under the Affordable Care Act (“Obamacare”) was in doubt. Proposals to “repeal and replace” the individual and employer mandates, along with ...