Question

What percentage of medical insurance payments can self-employed taxpayers deduct as a deduction for adjusted gross income on their 2019 tax returns?

Answer 1

"100%" would be the right answer. A further explanation is given below.

Step-by-step explanation:

• Self-employed employees become entitled to withhold the remainder of premiums for individuals, eligible families, and certain dependents, namely the 100 percent including its medical benefit payment (which includes dental and even deep-term healthcare insurance).
• Because it is the law unless net profits exceed the compensation premium, which is likely to subtract $100.