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Apply S-Corp Medical at Year-end for Corporate Officers

Jan 21, 2015 10:00:00 PM

This article assumes that you are using QuickBooks (desktop) and QuickBooks Enhanced Payroll.  QuickBooks Payroll allows for two different methods by which you can track Medical Health Premiums for S-Corp Officers. You may have been processing S-Corp Health Insurance premiums using a Scorp Pd Med Premium Payroll Item all year long, but many S-Corps will choose to simply apply the S-Corp Health Insurance premiums they have been paying to an officer’s payroll at year end. This article discusses the method for making these year-end payroll adjustments.

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William Murphy

William (Bill) Murphy, better known as "Murph," is responsible for day-to-day technical content. Murph is an Advanced Certified ProAdvisor with over 30 years of QuickBooks consulting experience. He has more than 45 years of experience in Business, Finance and Public Accounting. For many years Murph was the “anchor” of the National Advisor Network’s online forum (now the Woodard forum) and three-time consecutive winner of the NAN Online MVP award. Murph has published numerous articles in industry publications and served as Technical Editor for Business Analysis with QuickBooks by Wiley Publishing.

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Topics from this blog: Premium S Corporations QuickBooks Desktop QuickBooks Payroll QuickBooks Enhanced Payroll