Question for Tom

[jim63]

I can't seem to find a definite answer to the following question: Can I deduct Medicare Part B and/or Part D premiums as a self-employed health care deduction? Also, what about Medicare Cost Plan premiums, e.g. HeathPartners Freedom Plan. Is this a "gray" area? Thanks for your answer, Jim

[Michael]

Welcome Jim to the Daycare.com Forum!

[TomCopeland]

A new tax law allows self-employed taxpayers, including family child care providers, to deduct health insurance premiums as a business expense. But, to claim this deduction you must not be eligible for any employer sponsored health care plan. Medicare is also excluded from this law, so it's not deductible - sorry!