Are You Eligible for the Self-Employed Health Insurance Deduction?
Tax Tip:
If you’re self-employed, you may be able to deduct 100% of the health insurance premiums you pay for you and your family. It makes no difference whether you purchase the insurance in your own name or your business purchases it. Keep in mind that the deduction can’t exceed the net income you earn from your business. Also, the deduction is unavailable if you’re eligible to participate in a health insurance plan subsidized by an employer of you or your spouse.
This material is generic in nature. Before relying on the material in any important matter, users should note date of publication and carefully evaluate its accuracy, currency, completeness, and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.
Share Post:
