Subscribe for 50% off
Subscribe

Medicine For The Sole

Health insurance for sole proprietors

This story appears in the May 2001 issue of Entrepreneur. Subscribe »

Question: We'vebeen told a sole proprietor can set up a medical account that willreimburse , including those of family members. Wehave not been able to confirm that. Where can we look?
Doug Miller
Horseshoe Bay, Texas

Answer: You arereferring to Section 105 of the Internal Revenue Code. Thisprovision permits the self-employed-including sole proprietorships,partnerships and LLCs-to deduct 100 percent of theirhealth- premiums and out-of-pocket medical expenses, abenefit otherwise limited only to C-type corporations.

Black Friday Subscription Sale - Unlock this subscriber exclusive article and more for 50% off today.

Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get 50% off an annual subscription today. Just use code SAVE50 at checkout.

Entrepreneur Editors' Picks