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medical insurance pr deduction wh
11/3/09 11:39 AM
Total Views: 49
Total Views: 49
is this exempt from fica and wh ??
All Replies: Answers (3)
Rating + 1
Answer
11/3/09 11:48 AM
If its pretax (125 Plan) it is exempt. If its post tax it is not exempt.
Rating + 1
Answer
11/3/09 12:43 PM
For employees, it is exempt from fica and withholding, provided there is a Section 125 plan in place. For S-Corp shareholders, it is subject to withholding, but not fica.
Rating 0
Answer
11/3/09 7:17 PM
If it is part of a Formal Section 125 plan the deductions are exempt from Fed and Fica Taxation
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