Plan Administrators – Use Box 85, if you share premiums with members

2020-12-22T16:51:18+00:00

Do you share the cost of your benefit plan (through payroll deduction) with your employees? Employees who share the cost of their health and dental premium are entitled to claim their contribution amount on their annual tax return. The portion deducted from employees should be reported annually in box 85 on your employees T4. The [...]