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URL:  https://boards.fool.com/s-corp-for-medical-bills-21503165.aspx

Subject:  S Corp for medical bills Date:  10/26/2004  12:57 PM
Author:  thedocisn2 Number:  73882 of 129410

Howdy all. I read on this site perhaps last Spring about a gentleman with an ill son who's insurance company was less than helpful with paying his medical bills. If memory serves me correctly this guy created a S Corp, made his son and employee, and then paid his bills as the S Corp. That allowed him to write off the medical bills as a business expense. Does anyone happen to have a link to that story or links on TMF to S Corp information? I haven't had any luck finding the material I found last Spring.

The reason I ask is because I need to have some dental work done. My last two insurance companies (BCBS and Delta) won't touch it because the teeth aren't damanged enough to suit them. I have the typical guy-wear: chips from youth thanks to sports, marching band, and just being a guy. The chips are on numerous teeth. My dentist says that even though the teeth must be fixed to ensure their reliable future use, he's never seen any insurance company pony up until it was too late. I'm looking at about $7,500 to crown multiple teeth, fixing the problem in the process.

This past year I've made about $35k from consulting work with no other outside income. I've invested about $18k in stocks since July and have made about $3500 YTD. I'd like to pay for the dental work as through an S Corp but I'm now wondering, do I have to have the S Corp set up before I make the $$ or can I declare it before the tax year is over and still be ok? I've never worked with a S Corp before. I figured I'd do some research on TMF first before I called my accountant. Any suggestions or pointers would be appreciated. Thanks

J
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