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post #61 of 63
This would not be money out of a corporation's pocket, it would be money out of the pockets of employees who are getting their health insurance premiums paid by their employer because the value of those premiums would be considered taxable income. A lot of us pay taxes on it, why shouldn't they?

Is your solution really to let small business owners and the self-employed continue to subsidize the tax break for employees of big business so people like Mackey can brag about their "generosity?" How does that help the economy?
post #62 of 63
When I was self-employed, when I had health insurance, I deducted it.

Anything a corporation pays out on its employees is deductible, within certain guidelines to avoid the corporation owning a resort in Hawaii for the use of its executives, etc.
post #63 of 63
MrBlanche it sounds as if your company was paying the premiums on your behalf, in which case it is of course deductible. I am not refering to that, but instead the case when the employer has not set up health insurance but instead pays out a salary from which the business owner pays for individual coverage. Not all small businesses offer health insurance to their employees nor are they obliged to do so.

Even then it's possible to deduct a portion of it but not necessarily all of it. It is treated differently for tax purposes than an employee benefit.

Before claiming this tax deduction, you must calculate your allowable health insurance deduction. Take your self-employment income, and subtract the 50% deduction for self-employment taxes, and subtract any retirement contributions you make to SEP-IRA, SIMPLE-IRA, or Keogh plan. The remainder is your allowable deduction for health insurance expenses.
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