My Health Insurance Blog » United States http://myhealthinsuranceblog.org Talking about Health Insurance Mon, 19 Apr 2010 02:10:25 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 How do health insurance tax deductions work for a member managed LLC? http://myhealthinsuranceblog.org/united-states/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/ http://myhealthinsuranceblog.org/united-states/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/ #comments Sun, 09 Nov 2008 23:41:42 +0000 admin http://myhealthinsuranceblog.org/ps/12

prizice24 asked:


I own a business (LLC) with two other people. It is only us three; we do not have any additional employees. We pay for our health insurance through our business. Based on these facts, I was wondering how much I stand to save on my personal taxes. Is this a standard write off like any other business expense or does the IRS treat health insurance differently?

]]> http://myhealthinsuranceblog.org/united-states/how-do-health-insurance-tax-deductions-work-for-a-member-managed-llc/ /feed 1 Are health insurance premiums that I pay and are deducted from my paycheck paid with after-tax dollars? http://myhealthinsuranceblog.org/united-states/are-health-insurance-premiums-that-i-pay-and-are-deducted-from-my-paycheck-paid-with-after-tax-dollars/ http://myhealthinsuranceblog.org/united-states/are-health-insurance-premiums-that-i-pay-and-are-deducted-from-my-paycheck-paid-with-after-tax-dollars/ #comments Mon, 03 Nov 2008 07:28:28 +0000 admin http://myhealthinsuranceblog.org/ps/18

davidgherron asked:


My health insurance is through my employer but I have to pay part of the premium and it is deducted from my paycheck each pay period. I am filing my taxes and am being asked if the premiums are paid for with after-tax dollars. Any answers?

]]> http://myhealthinsuranceblog.org/united-states/are-health-insurance-premiums-that-i-pay-and-are-deducted-from-my-paycheck-paid-with-after-tax-dollars/ /feed 8 how can i tell if my health insurance benefits are pre taxed? http://myhealthinsuranceblog.org/united-states/how-can-i-tell-if-my-health-insurance-benefits-are-pre-taxed-2/ http://myhealthinsuranceblog.org/united-states/how-can-i-tell-if-my-health-insurance-benefits-are-pre-taxed-2/ #comments Sun, 02 Nov 2008 19:07:54 +0000 admin http://myhealthinsuranceblog.org/ps/32

health insurance
montcoguy0o asked:


Keep in mind, your health insurance premiums can’t be deducted if they’re taken out of your paycheck as pre-tax dollars. However, after-tax health insurance premiums are deductible, but they still are subject to a limitation of 7.5% of your AGI. If you’re self-employed, you may deduct a portion of your health insurance premiums as an adjustment. The self-employed deductible portion is 100% in 2007.

]]> http://myhealthinsuranceblog.org/united-states/how-can-i-tell-if-my-health-insurance-benefits-are-pre-taxed-2/ /feed 3 Am I able to write off Health Insurance Premiums for tax purposes at the end of the year? http://myhealthinsuranceblog.org/united-states/am-i-able-to-write-off-health-insurance-premiums-for-tax-purposes-at-the-end-of-the-year/ http://myhealthinsuranceblog.org/united-states/am-i-able-to-write-off-health-insurance-premiums-for-tax-purposes-at-the-end-of-the-year/ #comments Sun, 02 Nov 2008 00:23:25 +0000 admin http://myhealthinsuranceblog.org/ps/14

Marcus W asked:


I am looking to purchase my own health insurance instead of going through my company. I know that the company takes out the cost on a pre-tax basis, but their insurance is not the greatest. If I do decided to sign up for health insurance, will I be able to use the cost of my own health insurance as a deduction fo tax purposes?

]]> http://myhealthinsuranceblog.org/united-states/am-i-able-to-write-off-health-insurance-premiums-for-tax-purposes-at-the-end-of-the-year/ /feed 6 Can I reimburse myself health insurance costs from my company? http://myhealthinsuranceblog.org/united-states/can-i-reimburse-myself-health-insurance-costs-from-my-company/ http://myhealthinsuranceblog.org/united-states/can-i-reimburse-myself-health-insurance-costs-from-my-company/ #comments Wed, 29 Oct 2008 13:25:23 +0000 admin http://myhealthinsuranceblog.org/ps/8

Jackie S asked:


We used to have individual health insurance, and I would pay for it out of my own company (an S Corp). When we got insurance through my husband’s employer, I stopped reimbursing myself.
He is paid for by the company, and then it costs extra to add myself and our child.

I was just going to deduct health insurance premiums on our Sch A, but we don’t have enough other medical expenses to meet the limit.

Is it ligit to go ahead and reimburse myself the amount that it cost for the health insurance? Then it would be a business expense. Thanks.

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