S Corp Business Owners

As 2014 comes to an end for all of you S Corp business owners, make sure that if you are paying for your health insurance premiums thru your business that it is added to your W2 for S Corp medical so that you are. Able to write it off 100% on your personal taxes.

Also, the IRS has extended the Section 179 Depreciation for another year, so if you are planning on buying any capital items, buy them now. Next year the bonus depreciation goes away.