From the New York Times:
Self-employed workers who pay their own health insurance premiums have always been able to deduct those costs, along with premiums for family members, when calculating their federal income taxes. The new law allows them to also deduct those costs before computing their self-employment taxes, also known as payroll taxes, which cover Social Security and Medicare.
Click the above link to read more.
Observations and insights from a Midwestern Small Business Tax Accountant. Tax Season tips from one of the largest tax preparation firms in Springfield, Illinois.
Thursday, September 30, 2010
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