Deducting Health Insurance Premiums If You're Self-Employed
Most self-employed taxpayers can deduct health insurance premiums, including age-based premiums for long-term care coverage. Write-offs are available whether or not you itemize, if you meet the requirements. Read more…
Tax Deductions for Diabetes
The IRS allows you to claim a tax deduction for many of the expenses you incur to diagnose, monitor and treat diabetes. Read more…
Video: How to Claim the Affordable Care Act Premium Tax Credit (Obamacare)
The Affordable Care Act Premium Tax Credit is a new refundable tax credit that can lower your monthly health insurance premiums. If you qualify for the tax credit, you can claim the Premium Tax Credit throughout the year to lower your monthly health insurance premiums, or claim the credit with your tax return to either lower your overall tax bill or increase your tax refund. Read more…
What Is IRS Form 1099-SA: Distributions from an HSA, Archer MSA, or Medicare Advantage MSA?
When you use the funds from a Health Savings Account (HSA), or a medical savings account (MSA) such as an Archer MSA or Medicare MSA, the institution that administers the account must report all distributions on Form 1099-SA. Read more…
Tax Deductible Pregnancy Medical Expenses
The costs related to pregnancy and child birth can add up quickly. If you itemize deductions, the IRS allows you to deduct part of these costs. Read more…
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