Can I deduct my health insurance premium from my taxes?

Answer If you are self-employed and your business had net profit, you can deduct the health insurance premiums you paid for you, your spouse and your dependents. You can't deduct premiums paid to an insur... Read More »

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Where do I deduct a health insurance premium paid to a nanny?

You cannot deduct the health insurance premium paid to a nanny on your taxes, but neither you nor your nanny has to pay taxes on that expense. For tax record purposes, if you reimburse your nanny f... Read More »

Can I deduct health insurance costs on taxes?

Unreimbursed health insurance costs count as a medical expense for tax purposes. If your total medical expenses exceed 7.5 percent of your adjusted gross income, you can deduct the excess if your i... Read More »

Can I deduct insurance depreciation on taxes?

You can deduct insurance depreciation on taxes. Insurance costs are not fully deductible in the year you pay. The cost of the insurance is returned through depreciation. This reduces taxable income... Read More »

Can the self-employed deduct health insurance?

Self-employed people can deduct the premiums paid for health insurance for themselves and their covered family members. The Internal Revenue Service states that self-employed people can also deduct... Read More »