Skip to main content

Site Navigation

Your Account

Choose Language

Med Insurance I Pay each month

? i pay my own med insurance do i put what i pay each month in profit gauges under expences

Answered! View the answer I have this problem too

Is this a good question?

Score 2
Add a comment

1 Answer

Chosen Solution

I choose not to put health insurance in with my business expenses, here's why. The IRS can't make up its mind whether this is a business tax deduction or a personal tax deduction, they keep going back and forth, for years it was personal and then they passed temporary regulation that made it business and now we're not sure for 2012, so it's easier to leave it out and deal with it on the tax return at the end of the year.

Was this answer helpful?

Score 1
Add a comment

Add your answer

Jeff will be eternally grateful.
View Statistics:

Past 24 Hours: 0

Past 7 Days: 0

Past 30 Days: 0

All Time: 505