10/12/2026
π° TAX TIP OF THE DAY π°
Day 8 of 30
π₯ Self-employed? Your health insurance premiums could be lowering your tax bill β and many business owners miss this one.
If you are self-employed, a partner, or own an S-corp, the IRS lets you deduct 100% of your health insurance premiums for yourself, your spouse, and your dependents. It is an "above-the-line" deduction β it lowers your income BEFORE your AGI is calculated. No itemizing required. π
Premiums you already pay every month reduce the income the IRS taxes you on. Dental and vision plans count too. π¦·π
One catch: the deduction cannot be more than your net self-employment profit. And if you or your spouse are eligible for employer-sponsored coverage through another job, you generally cannot claim this one.
Save every premium statement this year β easy to forget at tax time, but the savings are real. πΈ
π Ready to get your taxes handled? Book an appointment: 404-791-8840 or 1-800-488-1453
β Dr. Shanann π