Once again, our favorite tax-blogger, Joe Kristan, has indispensable year-end news:
"S corporation shareholders need to make sure that their premiums are included on their 2007 W-2s."
What's the point, you ask?
Simply this: if you own a business, and you want to (legally) deduct your health insurance premiums (usually a non-trivial amount), there are some new rules, and you need to know about them.
Fortunately, Joe has all the sordid details, which he generously shares with those of us who don't count (or even necessarily know) beans.
Check it out.