Pretax Insurance Deductions

VG123

New Member
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I have a small business with 3 employees (including myself). The company does not pay for health insurance for any employees. One employee wants to begin deducting pretax dollars to pay for his medical insurance premiums that he pays for personally. How can I accomplish this for him?
 
You have to have employer sponsored coverage to pretax the benefits. There are certain reimbursement plans and deductions available to receive similar tax treatment on individually purchased medical plans (i.e. deducting your medical as an expense on your Schedule A, etc.).
 
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