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"From what I have read, as greater than 2% share holders in our S-corporation, we are unable to participate in cafeteria plans set up by the company for our employees."

To moseykitty,
I am trying to find out the same thing about s corp/ caferteria plans. I understood that your s-corp. could not directly give you the benefits that a regular c-corp could.ie pay your deductables,etc. for you.
But the cafeteria is deducting pretax money from YOUR paycheck, not outright paying for the benifit. I wonder if this is still considered a benefit. After all, it is money that you have earned, its not a perk. Does anyone know?
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