USA LLC Health Insurance

Joined
Feb 24, 2016
Messages
26
Reaction score
0
Country
United States
I own a multi member LLC with two equal partners. We are looking to purchase insurance for the three members.

My question is, is the LLC allowed to reimburse the members for their own insurance they buy individually? Or does the insurance plan have to be under the LLC in order to reduce our net income.

Thanks
 
Joined
Feb 24, 2016
Messages
26
Reaction score
0
Country
United States

Thanks Kirby.

Another question.....
Can the LLC pay the members insurance premiums in the form of a guaranteed Payment, then those payments are expensed out to the LLC correct?

If so, where does the member report those guaranteed payments on his taxes, knowing that they must pay self employment tax on those payments.
 

kirby

VIP Member
Joined
May 12, 2011
Messages
2,445
Reaction score
332
Country
United States
Not familiar with that. Maybe someone else can help.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top