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akriegstein
Joined: 09 Jul 2008
Posts: 1
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| Posted: Wed Jul 09, 2008 9:42 am Post subject: NY S Corp deduction |
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Hi all:
I am the sole s/h of a NY State S Corp. I have established payroll for myself and was wondering if the Unemployment Insurance I pay on my salary is a deductible expense for the corporation.
Any advise is greatly appreciated.
Thanks in advance.
Adam |
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RobJ
Joined: 11 Jun 2008
Posts: 182
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| Posted: Wed Jul 09, 2008 1:44 pm Post subject: Re: NY S Corp deduction |
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akriegstein wrote: I am the sole s/h of a NY State S Corp. I have established payroll for myself and was wondering if the Unemployment Insurance I pay on my salary is a deductible expense for the corporation.
It is deductible as far as the IRS is concerned. Good luck ever collecting on it if you need it, though. There are rather limited circumstances in which you can collect since you're the guy responsible for steering the ship and making sure your business doesn't run aground.
Rob |
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Richard Noot
Joined: 20 Aug 2005
Posts: 831
Location: Minnesota
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| Posted: Wed Jul 09, 2008 9:51 pm Post subject: Re: NY S Corp deduction |
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RobJ wrote: akriegstein wrote: I am the sole s/h of a NY State S Corp. I have established payroll for myself and was wondering if the Unemployment Insurance I pay on my salary is a deductible expense for the corporation.
It is deductible as far as the IRS is concerned. Good luck ever collecting on it if you need it, though. There are rather limited circumstances in which you can collect since you're the guy responsible for steering the ship and making sure your business doesn't run aground.
Rob Just make sure that he gives himself a good reference. |
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