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  #5  
Old 03-16-2006, 06:38 AM
ed
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Default Re: medical deduction

Unlike your Health Insurance, Life Insurance is not
deductible on Schedule A.

ed

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #4  
Old 03-16-2006, 06:00 AM
hlunsford@bellsouth.net
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Default Re: medical deduction

linda_no_ spam_ [at]comcast.net wrote:

- quote -

> We itemize using schedule A - I can deduct the withiholding
> from my husbands paycheck for health insurance - they also
> with hold for a life insurance policy that he has through
> them - is this deductable? He is an empoyee not an owner.


As for health insurance, that depends. On whether or not
the premiums are paid pre or post tax. the company can tell
him; not you, but him - privacy laws.

Life insurance? No.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #3  
Old 03-16-2006, 05:40 AM
Herb Smith
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Default Re: medical deduction

linda_no_ spam_ [at]comcast.net wrote:

- quote -

> We itemize using schedule A - I can deduct the withiholding
> from my husbands paycheck for health insurance - they also
> with hold for a life insurance policy that he has through
> them - is this deductable? He is an empoyee not an owner.


Life insurance premiums are not deductible. Health insurance
premiums are deductible on Schedule A, IF they are paid with
AFTER TAX income. Many times the premiums are paid with
PRE-TAX funds as part of a 125 cafeteria plan, hence
nondeductible. Check your husbands pay stub or W2 (Box 14)
to make sure.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #2  
Old 03-16-2006, 05:21 AM
Bill
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Default Re: medical deduction

(linda_no_=A0spam_=A0[at]comcast.net) posted:

- quote -

> We itemize using schedule A - I can deduct
> the withiholding from my husbands paycheck
> for health insurance - they also with hold for a
> life insurance policy that he has through them
> - is this deductable? He is an empoyee not an
> owner.


No. Life insurance is not a "health expense." But often
overlooked is the fact that you can deduct mileage for
driving to doctors, dentists, labs and hospitals. Last year
the rate was 15 cents/mile thru Aug 31, and 22 cents/mile
from Sep 1 thru Dec 31.

Bill

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #1  
Old 03-16-2006, 05:21 AM
Phil Marti
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Posts: n/a
Default Re: medical deduction

"linda_no_ spam_ [at]comcast.net" <Linda_no_spam_[at]comcast.net> wrote:

- quote -

> We itemize using schedule A - I can deduct the withiholding
> from my husbands paycheck for health insurance - they also
> with hold for a life insurance policy that he has through
> them - is this deductable?


No.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 
Old 03-16-2006, 05:21 AM
GOBLUE
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Posts: n/a
Default Re: medical deduction

Linda,

Yes - if the deduction is after tax.

No - if the deduction is pre-tax (such as a flex spending or
cafeteria plan).

Jim Hayden EA

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 03-15-2006, 08:47 AM
linda_no_ spam_ @comcast.net
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Posts: n/a
Default medical deduction

We itemize using schedule A - I can deduct the withiholding
from my husbands paycheck for health insurance - they also
with hold for a life insurance policy that he has through
them - is this deductable? He is an empoyee not an owner.

Thanks - Linda

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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