Self-employed? Deduct Health Insurance Premiums.

Tip of the Month

March 2000

Self-employed? Deduct Health Insurance Premiums.

If you were self-employed in 1999 and made a net profit, you can deduct health insurance premiums paid by you. You can deduct 60% of the premiums for you, your spouse and any dependents. This percentage may rise to 70% in 2002 and higher in 2003.

These articles are intended to provide general resources for the tax and accounting needs of small businesses and individuals. Service2Client LLC is the author, but is not engaged in rendering specific legal, accounting, financial or professional advice. Service2Client LLC makes no representation that the recommendations of Service2Client LLC will achieve any result. The NSAD has not reviewed any of the Service2Client LLC content. Readers are encouraged to contact their CPA regarding the topics in these articles.