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Briefing: Self-Employment Health Insurance Tax Deduction
FOR PLANNING PURPOSES
March 9, 2011
**MEDIA ADVISORY**
WASHINGTON – Please join Kristie Arslan, Executive Director of the National Association for the Self-Employed (NASE), for a conference call briefing on the temporary self-employed health insurance tax deduction available to individuals who pay self-employment taxes on their 2010 tax returns. Kristie will also discuss recent efforts to make this tax deduction permanent and to redress an historic unfairness in the tax code’s treatment of self-employed and micro-business owners.
Conference Call Briefing
Thursday, March 17th
2:00PM Eastern Standard Time
Call In Number: 1-866-628-8620
Participant Passcode: 324784
Please see the below Huffington Post blog piece by Kristie about the temporary tax deduction and the many benefits of making the deduction permanent.
It is a sad, but true fact: health insurance is a luxury item for many small business owners, purchased when times are good and forsaken when times are lean. This is especially true for self-employed and micro-businesses -- our nation's smallest businesses. Thanks to a minor quirk in the tax code that has a major effect on their bottom lines, the self-employed are the only business entities that receive no tax benefit for purchasing coverage. Every other type of business, like corporations and partnerships, can write off the cost of health insurance as a business expense.
Congress delivered a temporary reprieve of this historic oversight in the form of the self-employed health care tax deduction included in the passage of last fall's Small Business Jobs Act. For the 2010 tax year, self-employed business owners are able to deduct the cost of their health care coverage, which will put about 15% of their premium back in their pocket. For the average self-employed business owner, the temporary deduction amounts to about $2,000.
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With tax day around the corner, Kristie would enjoy the opportunity to brief you on this important tax deduction for our nation’s smallest businesses. If you are interested in joining the conference call, please RSVP to this email, Kristofer.eisenla@widmeyer.com.