S-Corp owners and payroll

[artgerst]

As an S-Corp owner I receive a paycheck like the rest of my employees. For each of the following items can someone please help with the correct way to handle these:

1. Medical Premiums - as a company we pay 100% of the employee medical premiums, but the employee pays pre-tax (Section 125) for family coverage. As an owner I believe I am NOT qualified for Section 125 (pre-tax), but should I have those family cost premiums come out of my paycheck after tax or just not deal with it in payroll at all?

2. HSA Employee contributions - same question as #1. Should my employee contributions to the HSA be part of a post-tax deduction in payroll or not (again I don't believe I am allowed to do pre-tax).

3. HSA Employer contributions - we as a company contribute (let's say) $100 month to employees HSA accounts (shows up in payroll employer side/w2). Do I do the same for me?

4. 401k contributions - I believe I can do this pre-tax like everyone else and just confirming here that I would be exactly the same as employees.

Thanks in advance!

[vangogh]

I'm not an accountant or a tax expert, but I wanted to reply to your thread to keep it active until someone who knows better than me sees it. Don't hold me to this, but I would think you would treat yourself the same as any other employee since the corporation is its own entity and not specifically tied to you being in charge. I did find this page on the IRS site (https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues) that mentions medical insurance for S-Corps. Hopefully it's more helpful than I've been.

[jlee1994848]

The rules of a 2% or greater ownership in a S-Corp can seem a little daunting. Basically, the expense for health insurance, etc. are deductible but must be included on the W-2 of the owner or officer. This publication covers most of the information for you purposes...https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues.

John

[cancanconat]

What John said is correct - for health insurance, you have to pay tax on the amount of health insurance paid for you. As for the 401K - yes, for you it works the same as an employee.