Self-Employed Federal Income TaxesEstimated Taxes – Common QuestionsImportant tax dates for the self-employedMost self-employed taxpayers can deduct health insurance premiumsTop Tax Write-offs for the Self-Employed More in Self Employment Taxes Form W-9 - What Is It and How Is It Used?Standa...
Premiums paid for long-term care insurance are generally deductible as a medical expense (although your total medical expenses are only deductible to the extent they exceed 7.5% of your AGI). However, the deduction for long-term care insurance is capped at an inflation-adjusted...
The self-employed can deduct certain expenses from their taxable income, including the costs of running the business, half of their Medicare and Social Security taxes, and health insurance premiums.92 Benefits and Drawbacks of Being a Freelancer The benefits of being a freelancer include having the...
The thought of having to pay for healthcare, in addition to themonthly premium costsyou have to pay just to keep your health insurance policy, can be depressing. But note that though the benefits may not be immediate, insurance deductibles may help to manage your overall spending on care. ...
(up to $1000 per calendar year); qualified higher education expenses; death, terminal illness or disability; health insurance premiums (if you are unemployed); some unreimbursed medical expenses; domestic abuse (up to $10,000); substantially equal period payments; Qualified Federally Declared ...
If you're shopping for car insurance, homeowners insurance, renters insurance, or health insurance, you've likely come across the term "deductible." A deductible is an amount you'll pay before your coverage kicks in. Your deductible is a set number or amount, often chosen when you pick you...
Health insurance and other premiums are voluntary payroll deductions that are typically made on a pre-tax basis. If you offer health benefits for your employees, you can have them pay part of their premiums via paycheck deductions. This also includes other health benefits, such as dental insuranc...
Health Insurance You might be able to deduct your health insurance premiums. To do this as a self-employed person, you must have had a net profit reported on your Schedule C or Schedule F. While employees often have access to their company’s private healthcare, most self-employed workers ...
Can I deduct medical expenses?Are health insurance premiums deductible?Can I deduct home mortgage points?What kind of retirement contributions are deductible?Does my standard deduction increase when I get married?Can I deduct legal or attorney fees?How do I report and deduct business expenses?
Annuities do not require health underwriting. You are guaranteed to qualify. You just need to have money to buy the contract. Policy Benefits Life insurance is more effective at creating an inheritance for your heirs. Your premiums can turn into a much larger death benefit. Your heirs also rec...