Tax-Tip – Deduction for Self-Employed Taxpayers – Medicare Premiums

Did you know that you can deduct your Medicare Premium if you are self-employed?  You can deduct your spouse’s premium, also.  Just like your other health-care insurance is deductible, you can also deduct the Medicare Premium that Social Security deducts from your SS Benefits.

If you prepare your own taxes and use software, look for the data entry for this deduction.  If you have your taxes prepared, be sure you mention this to your preparer.