Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Insurance Premiums and Taxes
Old 09-22-2007, 03:41 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,075
Insurance Premiums and Taxes

Are Insurance Premiums Tax deductible? I am talking health and P&C... I know they are if the premiums are related to business...

But what about the FIRED person. Can we deduct Premiums? Where is the Insurance Lobby for that one?

Everyone has multiple Health and P&C costs.
  • Basic health and hospitalization.
  • LTC
  • House Insurance
  • Automobile.
  • Some Others that are purely risk mitigation related to events.
The total pretax cost of these are high.

I know there are the HSA and maybe other things coming for basic Health?

But our house insurance, LTC, an Auto insurance adds up also.

Thoughts anyone?

chinaco is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-22-2007, 05:41 AM   #2
Recycles dryer sheets
Join Date: Sep 2005
Posts: 85
Medical insurance premiums and your actual health costs that exceed 7.5% of your AGI are deductible if you itemize.

Only the amount over 7.5% is deductible you lose the first 7.5%

burch64 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Deducting health insurance premiums Rich_by_the_Bay FIRE and Money 13 10-11-2007 09:28 PM
Well, my health insurance premiums are going up 15% next year retire@40 FIRE and Money 9 10-05-2006 10:35 AM
Pay COBRA premiums using HSA free4now FIRE and Money 3 08-22-2006 12:18 PM
Your health insurance premiums? perinova FIRE and Money 25 05-12-2006 07:25 PM
Health Insurance Premiums wabmester FIRE and Money 16 01-28-2006 03:20 PM


All times are GMT -6. The time now is 03:08 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.