Making Your Family Health Insurance Deductible

by | Jan 9, 2008 | Cash Flow

kiplinger-tax-letter.jpgIf you are a sole proprietor, the Kiplinger Tax Letter says here is a “sure fire” way you can deduct ALL of your family’s health insurance. “Hire your spouse and offer FAMILY coverage for all employees…that way, you would then receive coverage under your spouse’s policy. If your spouse is your only employee (which is very important), there’s no extra out-of-pocket cost.” They go on to say you need to be sure your spouse is the primary insured on the policy and that premiums are paid from the business checking account.

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