... and the owner underreported his business income for the year. (TC Memo 2020-4) Case 2: Expenses must be business related In another case, an independent insurance agent’s claims for a variety of business ...
... and getting elective surgery. In addition to hospital and doctor expenses, here are some items to take into account when determining your allowable costs: Health insurance premiums. This item can ...
... an expense only for the year in which it was incurred, regardless of when it was paid. Insurance restrictions. Taxpayers may deduct health insurance premiums on their tax returns if certain requirements ...
... benefits associated with employment or employer-sponsored health insurance. They also aren’t covered by the minimum wage or other protections of federal laws, aren’t part of states’ unemployment insurance ...
... ACA also added a nondeductible excise tax on insurers when the aggregate value of employer-sponsored health insurance coverage for an employee, former employee, surviving spouse or other primary insured ...
... strategies for the next 12 months. 4. Review insurance coverage. It’s important to stay on top of your property, casualty and liability coverage. Property values or risks may change — or you may add ...
... of qualified principal residence indebtedness, The treatment of mortgage insurance premiums as qualified residence interest for itemized deduction purposes, The reduction in the medical expense itemized ...
... sell your home in the old state (or rent it out at market rates to an unrelated party), Change your mailing address at the post office, Change your address on passports, insurance policies, will or ...
Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of coverage they desire. The premiums can be expensive, especially if ...
Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs ...