ElectroFile Income Tax Service   Income Tax Service   Terry Hough, President
Terry Hough

April 01, 2013 Newsletter


Donít Miss the Health Insurance Deduction if Youíre Self-Employed

If you are self-employed, you should know about a tax deduction generally available to people who are self-employed.

The deduction is for medical, dental or long-term care insurance premiums that self-employed people often pay for themselves, their spouse and their dependents. The insurance can also cover your child who was under age 27 at the end of 2012, even if the child was not your dependent.

You may be able to take this deduction if one of the following applies to you:

There are also some rules that apply to how the insurance plan is established. Follow these guidelines to make sure the plan qualifies: For more information, see Publication 535, Business Expenses or see your ElectroFile tax professional.
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