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To: Ron who wrote (236881)	11/5/2013 2:35:23 PM
From: neolib	Respond to of 542009

If you are self-employed, you may be eligible to deduct premiums The key points of this are highlighted. You are not self-employed if what you do earn comes via W-2's.

To: Ron who wrote (236881)	11/6/2013 5:52:43 AM
From: Bread Upon The Water	Respond to of 542009

If you are self-employed, you may be eligible to deduct premiums that you pay for medical, dental and qualifying long-term care insurance coverage for yourself, your spouse and your dependents. This health insurance write-off is entered on page 1 of Form 1040, which means you benefit whether or not you itemize your deductions. Unlike an itemized deduction, this deduction treatment is beneficial because it lowers your adjusted gross income (AGI). Having lower AGI can reduce the odds that you’ll be affected by unfavorable phase-out rules that can cut back or eliminate various tax breaks. Keep in mind that this deduction treatment also means you can’t deduct the premiums when you calculate your self-employment tax liability. You obviously are more up on this than I am, but if one is not writing the insurance off as a business expense/deduction than I was under the impression that the premiums had to exceed a certain percentage level of one's AGI before they were eligible for the write off. It may be that this only applies to LTC insurance--not sure.