Health insurance on W-2

I’ve had several clients recently ask if their health insurance paid by their employer (i.e. the medical practice) will be taxable next year.  In other words, will the value be added to taxable wages? The answer is NO!  This myth is still going around and is untrue.  It is going to be reported just like 401K contributions and other similar items are reported on the W2 for INFORMATION purposes only.

 

p.s. Don't forget to visit my micro-blog at www.twitter.com/rtacpa.

 

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About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA