S-corp tax write-offs
Varies
What Can an S-Corp Write Off?
Short answer: S-corps deduct the owner's reasonable salary and payroll taxes, accountable-plan reimbursements (home office, phone, mileage), owner health insurance, retirement contributions, and normal business costs.
Distributions aren't deductible. Owners with more than 2% must include health premiums in W-2 wages, then deduct them personally.
Records to keep: Keep receipts, statements, and a simple log of business purpose; compare itemizing to the standard deduction each year.
S-corp tax write-offs
Varies
General Business
S-corps deduct the owner's reasonable salary and payroll taxes, accountable-plan reimbursements (home office, phone, mileage), owner health insurance, retirement contributions, and normal business costs.
Business justification
S-corps deduct the owner's reasonable salary and payroll taxes, accountable-plan reimbursements (home office, phone, mileage), owner health insurance, retirement contributions, and normal business costs. Distributions aren't deductible. Owners with more than 2% must include health premiums in W-2 wages, then deduct them personally.
Category
- Write-Off Guides