Welcome to the MDTAXES Message Board

The MDTAXES Network is an affiliation of CPAs that specialize in the tax planning and preparation for young health care professionals.  Please leave your questions or comments for our CPAs, who visit the message board regularly, or review the answers, suggestions and ideas posted in response to your colleagues' questions.

Please check out our other Message Boards available at www.FindAGoodCPA.com.

Please note: We are NOT affiliated with the Maryland Tax Department. If you're looking for information about Maryland income taxes, go to www.marylandtaxes.com.

Return to Website  > Index  > Doctors in Practice  > Corp's, S-Corp's, and LLC's  > Re: Reporting Disability Insurance Pr...
Recent Posts
 
Corp's, S-Corp's, and LLC's
Start a New Topic 
Author
Comment
View Entire Thread
a
Andrew Schwartz CPA
Jan 8, 2013 - 10:20PM
Re: Reporting Disability Insurance Premiums

On the 1120S, each of these items that are deductible would be grouped as part of Other Expenses (Page 1 line 19), and there would be a statement attached to the back of the return listing these expenses. The state filing fees might actually be grouped with Taxes instead on Page 1, Line 12.

For the disability insurance policy, premiums paid for a policy on a more than 2% shareholder would probably not be tax deductible, and instead, would need to be reported with other non-deductible items on the Schedule M-1 which is on Page 5 of the 1120S.

You can check out the 1120S at:

http://www.irs.gov/pub/irs-pdf/f1120s.pdf

Zip Code: 01801

Return to Website  > Index  > Doctors in Practice  > Corp's, S-Corp's, and LLC's  > Re: Reporting Disability Insurance Pr...