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Healthcare Deductions

Plan ahead for tax time.

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The IRS allows self-employed businesspeople to deduct 60 percent of health insurance premium costs. For more information on specific IRS guidelines, request IRS Publication 533, Self Employment Tax, and IRS Publication 502, Medical and Dental Expenses, by visiting www.irs.gov.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need