Employee's Health Insurance
Our clients who are employees often ask us if they can deduct their health insurance premiums? If your premiums are deducted from your wages, the answer is often no. Most larger employers have in place a plan that in effect gives you your deduction upfront, and this is what you want. Employers with qualified benefit plans have done the extra paper work that gives you the best tax deal. We can usually determine if you are paying your insurance with pre-tax money if you bring us a check stub showing the deduction.