How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?
How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?
How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?
As long as you have an account labeled Guaranteed Payment Expense and map it (or your CPA manually adds it) to the K-1 that is all you need do. It is not 1099 income to the partners so tracking it as vendor payments for 1099 form does not accomplish anything other than giving you a total by partner
How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?
How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?
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