Daycare.com Forum
Daycare and Taxes>Section 105/Healthcare.gov
MissAnn 12:53 PM 12-11-2017
Not sure if I even know how to ask this question.
With section 105 and being able to deduct medical expenses and insurance as a business expense, we will qualify for the healthcare.gov tax credit. Without it I would say is risky. We might go over on our income.
So, If we qualify for it based on our section 105 deductions....do we still get the tax credit? This is my thinking....with the tax credit, we didn't really pay our insurance (or at least get reimbursed at the end of the year).....so it seems like we shouldn't be able to deduct our premiums but maybe we can deduct our medical expenses.
Does this make sense, because I can't make it make sense in my head.
Tom.....help! And thank you!
With section 105 and being able to deduct medical expenses and insurance as a business expense, we will qualify for the healthcare.gov tax credit. Without it I would say is risky. We might go over on our income.
So, If we qualify for it based on our section 105 deductions....do we still get the tax credit? This is my thinking....with the tax credit, we didn't really pay our insurance (or at least get reimbursed at the end of the year).....so it seems like we shouldn't be able to deduct our premiums but maybe we can deduct our medical expenses.
Does this make sense, because I can't make it make sense in my head.
Tom.....help! And thank you!