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#5
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| 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. > << ================================================== ===== > |
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#4
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| linda_no_ spam_ [at]comcast.net wrote: - quote - > We itemize using schedule A - I can deduct the withiholding
As for health insurance, that depends. On whether or not> 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. 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. > << ================================================== ===== > |
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#3
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| linda_no_ spam_ [at]comcast.net wrote: - quote - > We itemize using schedule A - I can deduct the withiholding
Life insurance premiums are not deductible. Health insurance> 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. 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. > << ================================================== ===== > |
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#2
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| (linda_no_=A0spam_=A0[at]comcast.net) posted: - quote - > We itemize using schedule A - I can deduct
No. Life insurance is not a "health expense." But often> 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. 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. > << ================================================== ===== > |
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#1
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| "linda_no_ spam_ [at]comcast.net" <Linda_no_spam_[at]comcast.net> wrote: - quote - > We itemize using schedule A - I can deduct the withiholding
No.> from my husbands paycheck for health insurance - they also > with hold for a life insurance policy that he has through > them - is this deductable? -- 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. > << ================================================== ===== > |
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| 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. > << ================================================== ===== > |
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#-1
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| 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. > << ================================================== ===== > |
| Tags |
| deduction, medical |
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