Once you have paid for a CPA or equivalent to give you tax advice, you should report back here with your advice otherwise we will consider you a leech.
What Tax Reform Means For Small Businesses & Pass-Through Entities https://www.forbes.com/sites/kellyp...usinesses-pass-through-entities/#5639d6bc6de3
It's the fact that it's not Voluntary transaction!! How am I taking advantage of living in a prosperous society... You just assume the alternative to paying crazy high taxes is living in a unsafe place.....you just can't make that assumption... Plus.. if you so happy with it donate some more money to the gov
I pay for my own health insurance., is that fully deductable or is that included with the personal 24k standard deduction? My accountant is gone til after new year or i would of called him.. trust me on that..lol
Sorry but you lose both ways. Health insurance that you pay for out of your own pocket is not deductible, unless you have your own LLC or C-Corp. If you are not covered on any other health insurance plan, one thing that you can do if you move fast before Dec 31st is to set up and fund a Health Savings Account. You get a full deduction for the deposit, and you will be able to use the funds to pay medical expenses with with pre-tax funds. I use HealthEquity.com since you can park the balance in Vanguard funds.
Ok.. it seems as long as you own your LLc and pay your own health insurance, it will still be fully deductable.