Deduct health insurance – Tax news

“I am proud to be paying taxes in the United States.
The only thing is – I could be just as proud for half the money.”
— Arthur Godfrey, entertainer

By Roger Chartier 1/ 26 / 2012

Quick tax tip for you or your friends and family:

If you paid for health insurance and were self-employed, The IRS tells us that you can most likely get a deduction for money you paid for insurance to cover your child until he/she is less than 27 years old by January 31 of the tax year.
Here is the kicker…even if the child was not your dependent.

I mentioned this to a friend with older kids and put a smile on that someone’s face.
Before you make a move check with the IRS to be sure of details.

Latest tax news:

President Obama today proposed the 30% tax for millionaires that a lot of us expected.
Although it won’t be of much concern to most people in the United States the ones who are millionaires are also the ones who can afford to sink money into political ads aimed at fighting it.

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