Posted by Art_MD on 3/15/05 9:37am
Msg #25502

medical insurance - partially tax deductable

Just a note that if you pay for individual health insurance, establish it thru you self employment work. i.e. pay bills out of whatever account you use for SA costs, etc. . Helps if you have a LLC or DBA. 1/2 of cost of insurance can be deductable.
I'm not a accountant, lawyer or tax expert. This is a personal interpretation fo the tax code.

Art

Reply by Jon on 3/15/05 11:23am
Msg #25531

If you pay for insurance as a self employed person, AND you have no insurance AVAILABLE to you through a job(or spouse's job), then the amount you pay is generally 100% deductable.

If you have questions regarding the deductability health insurance, I recommend consulting a tax professional.