HSA for Small Business
HSA vs Health Insurance for a Solo Incorporated Contractor
HSA eligibility and S-corp tax treatment create unique savings opportunities for contractors.
Marcus Delgado-Firth
· 10 min read
HSA eligibility and S-corp tax treatment create unique savings opportunities for contractors.
CRA requires written benefit classes based on real employment distinctions.
Incorporated businesses can deduct owner medical expenses through a Health Spending Account.
Five structural requirements CRA enforces to protect PHSP tax status.
Corporations can deduct HSA contributions while employees receive reimbursements tax-free.
One misstep at any stage can make years of tax-free benefits retroactively taxable.