close
    Will I get tax benefits if I buy insurance?

    0  Views: 1972 Answers: 2 Posted: 10 years ago

    2 Answers

    It depends on what country you live in, your occupation, your income etc. You need to ask a tax professional or an accountant.

    When I am able to itemize my deductions, my cost of health insurance is part of my deductions, along with the long-term health care insurance.  However, I only get a portion of that.  I believe the first 7 1/2% of your health expenses (of your gross income....or is it net.....one or the other) is NOT deductible.  


    You can contact any tax prep agency (H & R Block, Liberty, CPA firm) and ask!!!



    Top contributors in Personal Finance category

     
    Colleen
    Answers: 222 / Questions: 1
    Karma: 3960
     
    ROMOS
    Answers: 71 / Questions: 0
    Karma: 3840
     
    Benthere
    Answers: 3 / Questions: 0
    Karma: 3345
     
    country bumpkin
    Answers: 43 / Questions: 0
    Karma: 3030
    > Top contributors chart

    Unanswered Questions

    bj88ame
    Answers: 0 Views: 5 Rating: 0
    WW88
    Answers: 0 Views: 8 Rating: 0
    abc8degree
    Answers: 0 Views: 10 Rating: 0
    abc8degree
    Answers: 0 Views: 8 Rating: 0
    Hello88
    Answers: 0 Views: 8 Rating: 0
    Da88winecoolers
    Answers: 0 Views: 9 Rating: 0
    > More questions...
    488313
    questions
    724860
    answers
    820246
    users