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Can a company reimburse health club premiums to an employee without having it appear as additional taxable income under ACA?
I've been trying to find out whether it's possible to deduct health club membership fees (or at least make them tax deductible through company reimbursement or having the company pay them directly). It's pretty difficult to Google since the simple answer is "NO" for individuals without special circumstances (medical conditions, doctors note, etc). That's not what I'm asking about.
Many private companies, local governments and health insurance companies provide partial reimbursements of the monthly dues as part of a company wide wellness program. There's usually some minor steps for compliance, but nothing too burdensome. Since I have a single owner/employee corporation, the plan could reimburse up to 100% of OOP expense for the health club dues similar to how our existing MERP works for medical expenses.
However, I can't find any straightforward references on setting up such a wellness plan and whether those reimbursements are deductible to the business.
Thanks!
I've been trying to find out whether it's possible to deduct health club membership fees (or at least make them tax deductible through company reimbursement or having the company pay them directly). It's pretty difficult to Google since the simple answer is "NO" for individuals without special circumstances (medical conditions, doctors note, etc). That's not what I'm asking about.
Many private companies, local governments and health insurance companies provide partial reimbursements of the monthly dues as part of a company wide wellness program. There's usually some minor steps for compliance, but nothing too burdensome. Since I have a single owner/employee corporation, the plan could reimburse up to 100% of OOP expense for the health club dues similar to how our existing MERP works for medical expenses.
However, I can't find any straightforward references on setting up such a wellness plan and whether those reimbursements are deductible to the business.
Thanks!
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