A 2% shareholder in an S-Corp has health insurance premiums paid by the corporation. The premium is added to his W-2 wage, and he takes a deduction of self-employed health insurance on his return. The premium for his wife and child is deducted from his wage like the dependents of all other employees. Can he take a deduction as self-employed health insurance, or is he limited to a deduction on Schedule A?

March 20th, 2024

Will there be any changes in the payroll deductions for 2018 due to the new tax law, and will it impact the federal and state withholding tables? As a bookkeeper, do I need to make any changes in the employee's withholdings for 2018, including Federal, State, and FICA?

October 26th, 2024

I am the legal guardian of my 10-year-old grandson, and I receive no assistance in raising him. His father is in jail, and I am unsure of his mother's status. I am 66 years old and have had him for three years. My Social Security does not cover our expenses. What kind of assistance can I apply for to help with food, clothing, and his education?

February 12th, 2024

My wife provides assistance care to a woman with special needs and has been reimbursed for her time throughout the year. The husband who pays her has not withheld any taxes. We feel we should claim this income, but how do we handle the taxes owed and the amount that should have been withheld before filing our taxes next year?

December 13th, 2023

Will the new territorial tax system passed with the new GOP tax bill benefit individual offshore investors or only corporations making a profit outside of the United States?

September 16th, 2023