Did you know if you own a Sub-S entity and you have your own health insurance you may be able to deduct your health insurance. The proper way to do it is a bit complicated but here you go:
Basically, the rule states that you expense your medical insurance deduction on the books of your company but you must also include it on your W-2. Then on your individual return we include the total income of your W-2 but then deduct before AGI. So basically, on your individual return those two items wash out but the net income coming from your K-1 has been reduced by the medical insurance.
So the first thing you to do is first expense the medical insurance on your books and make sure they are in an appropriate category, then adjust your W-2 as follows. The income in Box 1 should be increased by the medical insurance but NOT in Box 3 or Box 5. Then in Box 14, you note Employer Insurance and the amount. Below is an example where the salary was $100,000 and the medical insurance was 12,000
This needs to be done before year-end, otherwise your CPA will need to amend your W-2. If you have not done this before talk with your CPA to make sure you are doing it correctly.
This guidance is limited. Consult with your CPA.