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Article Date:
June 2011


Word Count:
492

 

 

IRS Lets Small Business off the Hook for W-2 Reporting of 105 Plans


The Section 105 medical plan is ideally suited for the one-owner proprietorship business with no employees other than the owner’s spouse.

 

Proprietors in this situation can hire their spouses as their only employees, cover their employee-spouses with Section 105 medical reimbursement plans, and count the reimbursements under the plans as the sole remuneration to the spouses. In this scenario

 

·

employer-spouses (proprietors) deduct the 105 reimbursements as business expenses on their Schedule Cs in the employee welfare benefit category and

·

employee-spouses receive tax-free fringe ... Log in to view full article.

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