Amare Berhie, Senior Tax
Accountant
amare@abataxaccounting.com
Direct 612-282-3200
Toll free 866-936-0430
Wednesday, July 18, 2012
IRS chief counsel: Self-employed taxpayers can deduct Medicare premiums
The Internal Revenue Service's Office of Chief
Counsel on Friday explained that self-employed taxpayers can deduct Medicare
premiums in the same way they can deduct health insurance premiums. The letter
clarifies a little-noticed change in the IRS position on this. The 2010 Form
1040 instructions and Publication 535 started permitting self-employed
taxpayers to take the deduction, but at that time the IRS offered no guidance
on the change. The chief counsel's letter states that eligible taxpayers can go
back and deduct Medicare premiums for tax years that are still open. JournalofAccountancy.com (7/16)
To read the details click the link. Looking
for an experienced and licensed by IRS tax preparer? As always we are available
to help. For no obligation free consultation contact us today!
Wednesday, July 11, 2012
Tuesday, July 3, 2012
Overseas Groups Applaud IRS Response to Expats
Overseas Groups Applaud IRS Response to Expats
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ABA Tax Accounting can assist you determine your facts, develop alternatives, quantify the affect of each of the viable alternatives and make a recommendation based on our understanding of your facts and our experience.
For more information please contact:
ABA Tax Accounting
Amare Berhie, Senior Tax Accountant
Direct 612-282-3200
Toll free 866-936-0430
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NAEA | Powering America's Tax Experts
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ABA Tax Accounting
Amare Berhie, Managing Member
Direct: 612-282-3200
amare@abataxaccounting.com
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