wait a minute.. why can't you take it off a schedule c? On 1/24/07, Mary Jo Sminkey <[EMAIL PROTECTED]> wrote: > >If your employer pays for your insurance you don't pay tax on that > >money as income, yet if you pay for your own insurance, it's from > >after taxed income. > > It's even worse than that, actually. The company paying for your health > insurance gets to deduct that as a cost of doing business. However, as > someone self-employed, I do *not* get to deduct the cost of my health > insurance when doing my Schedule C and figuring self-employment tax. Many > people do not realize how bad the situation is getting for the self-employed > and for small businesses. It doesn't just effect the poor, reasonable health > insurance is difficult to get for many people that make a decent living, but > aren't making 6 figures. Were I not in a state that had some kind of > guaranteed health insurance, I'd be out of luck, because it's near impossible > to get individual health insurance if you've had *any* health problems in the > last 10 years. As it is, I have to pay for fairly expensive insurance that > has high deductables and co-pays, and is nowhere near as good as what I've > gotten when working a regular job. It's a constant concern for me, and with a > couple minor health issues I had last year, wiped out a large chunk of my > income...but still not enough to actually be able to deduct medical expenses. > I'll be interested to see what the President is proposing because something > like that could really make a big differenc to people like me. > > --- Mary Jo > > >
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