4-13-11 Health Insurance Deduction for Self-Employed Individuals |
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Health Insurance Deduction for Self-Employed Individuals In the past, although health insurance for self employed taxpayers was allowed as an expense on personal returns, it was not allowed as a “business” expense. Recent changes to the tax law will now allow self-employed individuals to deduct their health insurance premiums as a business expense. This is beneficial as this will reduce self-employment taxes paid on net business income. This change is currently in effect for the 2010 tax return only.
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