Luis operates a bakery as a sole proprietorship which generated $280,000 in net income. He has four

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Luis operates a bakery as a sole proprietorship which generated $280,000 in net income. He has four bakers whom he employs on a full-time basis and who participate in a company-paid health insurance plan. Luis is also covered by this same plan. The annual premiums are $2,300 per person. The business paid $11,500 for health insurance premiums for 2017. Are these insurance premiums deductible? If they are, where does Luis deduct them on his tax return?

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Taxation For Decision Makers 2018

ISBN: 9781119373735

8th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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