What Is a Self-Employed Health Insurance Deduction?
The self-employed health insurance deduction refers to a tax deduction that people who work for themselves are often eligible to claim. While the criteria varies from one jurisdiction to another, it often possible to claim all or at least a significant part of the premiums paid for self-employed health insurance during the tax period. Because there is always the chance of eligibility for claiming the deduction to change over time, it is important for anyone wishing to claim this type of tax deduction to confirm that he or she is still eligible under current laws.
The self-employed health insurance deduction refers to a tax deduction that people who work for themselves are often eligible to claim. While the criteria varies from one jurisdiction to another, it often possible to claim all or at least a significant part of the premiums paid for self-employed health insurance during the tax period. Because there is always the chance of eligibility for claiming the deduction to change over time, it is important for anyone wishing to claim this type of tax deduction to confirm that he or she is still eligible under current laws. In the United States, the ability to claim a self-employed health insurance deduction depends on the type of business incorporation that has taken place. The amount of income generated by the business, as well as any contributions made into a retirement program will impact the amount of the deduction. In addition, businesses that are set up under certain classifications must generate a net profit in order to make it possible t
