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Financial Planning / Tax Strategies


Subject:  Re: Health insurance, wife self employed Date:  3/30/2014  8:23 PM
Author:  ptheland Number:  120629 of 127616

That's not the question.

The technical question is: Are the premiums you are paying through your employer for your family part of a Section 125 plan? Sometimes called a flex plan?

If so, your employer will reduce your taxable wages by the amount you are paying for the insurance. So you are already getting a tax deduction, and don't need to deduct them separately on your 1040.

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