Are Health Insurance Payments Taxable For Futa Purposes? If an employer pays the cost of an accident or health insurance plan for his/her employees (including an employee’s spouse and dependents), then the employer’s payments are not wages and are not subject to social security, Medicare, and FUTA taxes, or federal income tax withholding. Is pre
Can Employees Of S Corp Take Health Care Deductions Pretax? S-corporations can provide health insurance as a tax-free benefit to its non-owner employees. This means the company offers group health insurance to employees and deducts the cost as a business expense, paying no taxes on the insurance premiums. Can I deduct my premiums if I’m
Does Self Employed Health Insurance Deduction Reduce Social Security? This should not be taken as legal or tax advice. Eligible self-employed individuals can use the self-employed health insurance deduction to reduce their Social Security tax in addition to their income tax liability for the 2010 tax year. Does health insurance premiums reduce Social Security wages?