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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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Monday, May 8 Expenses – Self-Employed Health Insurance, #107
Many medical expenses are tax deductible. This brief details what health insurance expenses self-employed individuals can and cannot deduct. Deduction Requirements
You can deduct only the part of your medical expenses that is greater than 7.5% of your adjusted gross income. If your medical expenses are less than 7.5% of your adjusted gross income, you cannot claim a deduction. … Subscribers have free access to the archives. Click here. |
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