Medicine For The Sole
Health insurance for sole proprietors
been told a sole proprietor can set up a medical account that will
reimburse medical expenses, including those of family members. We
have not been able to confirm that. Where can we look?
Horseshoe Bay, Texas
Answer: You are referring to Section 105 of the Internal Revenue Code. This provision permits the self-employed-including sole proprietorships, partnerships and LLCs-to deduct 100 percent of their health-insurance premiums and out-of-pocket medical expenses, a benefit otherwise limited only to C-type corporations.
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