We are losing my wife’s health insurance and are going to be taking out a private health insurance policy. I am self-employed and think I can deduct the premiums from my taxable income.
Does anyone know if that is the case? I would appreciate anyone who could point me in the right direction.
If you establish the policy in the name of the business (or your name if a sole proprietor), then you can deduct the premiums on the front of the 1040, line 29.
yes
References :
yes, next year when you file (or later in the year, if you file quarterly for business purposes) you can deduct that as part of your self employment expenses. I am self employed (but not insured) and when i just recently filed i remember seeing that as one of the deduction lines, along with other expenses.
References :
If you establish the policy in the name of the business (or your name if a sole proprietor), then you can deduct the premiums on the front of the 1040, line 29.
References :
To answer your question;
LOL liberals are now into taking their ball and running to different states, and throwing two year old temper tantrums now that the American public is making them eat Obama's words….