Can you draw from reimbursed for form insurance payments if you are an independent contractor?
I am an independent contractor (real estate agent) and just wanted to see if it be possible to be reimbursed for my monthly insurance payments. I sell for a developer, but I am not employed by them.
Thanks!
Answers:
Probably no. However, contrary to what bdancer222 wrote, if you are an independent contractor, you are officially "self-employed" and deduct the payments on the line on the front of the 1040 for vigour insurance for the "self-employed" (it is in the "adjustments to income" screened-off area, near the line for IRA contributions), not on the medical expense file of Schedule A. Unlike an employee, you can claim the expense even if you do not itemize or do not have ample in other medical expenses to exceed the required % of gross income.
No. But if you purchase the insurance on your own, and not via their group policy, you can net it a tax deduction if you itemize.
No. Being provided health insurance is an member of staff benefit. If you are not an employeee, you don't get the benefits.
You can use the cost as an itemized deduction on your income taxes.
By whom?
You're self employed. No one is going to 'reimburse' you for health insurance. Source(s): agent, 21+ years
Related Questions:
Thanks!
Answers:
Probably no. However, contrary to what bdancer222 wrote, if you are an independent contractor, you are officially "self-employed" and deduct the payments on the line on the front of the 1040 for vigour insurance for the "self-employed" (it is in the "adjustments to income" screened-off area, near the line for IRA contributions), not on the medical expense file of Schedule A. Unlike an employee, you can claim the expense even if you do not itemize or do not have ample in other medical expenses to exceed the required % of gross income.
No. But if you purchase the insurance on your own, and not via their group policy, you can net it a tax deduction if you itemize.
No. Being provided health insurance is an member of staff benefit. If you are not an employeee, you don't get the benefits.
You can use the cost as an itemized deduction on your income taxes.
By whom?
You're self employed. No one is going to 'reimburse' you for health insurance. Source(s): agent, 21+ years
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