Insurance: Medical Insurance

Medical Insurance

Taking advantage of your self employed health insurance deductions is an effective way of reducing your self-employment tax. It is estimated that more than 40 million Americans today are without health insurance. Don’t be one of them.Being self-employed does not mean that you have to be without health insurance. There is little doubt that the subject of health insurance is one of the most pressing concerns among self-employed individuals. In response to this, the government has introduced policies designed to help self-employed individuals.Today, freelancers, consultants and similarly self-employed individuals are able to deduct their health insurance premiums. An invaluable benefit of the self employed health insurance deduction is that it is recognized as an above the line deduction for your Adjusted Gross Income.It is important to note that, in order to benefits from such deductions, you will need to found eligible. Self Employed Health Insurance deductions can be claimed by;