are cobra costs tax deductible?
453131
Premiums for COBRA insurance are tax deductible, as they are paid entirely by you on an after-tax basis. If you buy medical coverage through an insurance marketplace, then premiums would be tax deductible as a medical expense.
508203
Unfortunately, commuting costs are not tax deductible. Commuting expenses incurred between your home and your main place of work, no matter how far are not an allowable deduction. ... This is also true for fares you pay to ride any of the following to and from work: Bus.
749774
If an employee elects COBRA, can HSA funds be used to pay for COBRA premiums? A. Yes. The premiums for health care continuation coverage under COBRA are considered an eligible medical expense, and payment of the premiums can be made using HSA funds.
207926
You are generally not eligible to deduct the cost of your Obamacare health insurance premiums from your federal taxable income.
716226
Premiums for COBRA insurance are tax deductible, as they are paid entirely by you on an after-tax basis. ... It is important to note that if you are eligible to enroll in a spouse's employer's plan and opt out of that coverage, then you would not be able to take the tax deduction.
708592
In most cases, training costs incurred by an employee will not be allowable for tax. This is because an expense cannot be deducted under the general rule for employees' expenses in Section 336 ITEPA 2003 unless it is incurred 'in the performance of the duties of the office or employment'.
992972
Repairs and improvements to your workspace are tax-deductible, though some larger expenses (such as new carpet) may be subject to an asset-depreciation schedule. ... These types of expenses are also deductible, according to the square-footage percentage of your home used as a business.
574114
Gambling losses are indeed tax deductible, but only to the extent of your winnings and requires you to report all the money you win as taxable income on your return. ... If you claim the standard deduction, then you can't reduce your tax by your gambling losses.
562055
Yes, an employer can pay all or part of a former or current employee's COBRA premiums. ... An employer may pay the premiums directly to the insurance company. These funds are nontaxable to the employee and excluded from wages. An employer may provide funds for premiums under a severance plan.
588274
Manager fees are not deductible. You should allow a deduction for fees paid to a professional adviser only to the extent that they are directly referable to the cost of acquiring or disposing of each particular investment.
363563
COBRA premiums may be paid to the employee, and the employee would pay the insurance company directly. ... An employer may pay the premiums directly to the insurance company. These funds are nontaxable to the employee and excluded from wages. An employer may provide funds for premiums under a severance plan.
431711
Yes. The premiums for health care continuation coverage under COBRA are considered an eligible medical expense, and payment of the premiums can be made using HSA funds.
887196
Generally, no, you can't deduct yoga classes as a medical expense. Deductions for exercise, fitness programs or swimming classes aren't acceptable unless the doctor recommends them as a specific treatment for a specific health problem.
1110667
Under the tax code, employers can take a tax deduction for the costs of their gym memberships if they offer them on-site. ... At the time of publication, the IRS allows businesses to deduct only the costs of providing on-site gym facilities.
1101354
Group health insurance premiums you pay are tax deductible as a business expense.
703188
Most expenses associated with building a new home are not tax-deductible. You may deduct no part of your down payment and n part of the principal of your mortgage loan. The costs of installing, connecting or paying for utilities also are not deductible.
1437435
Lease payments are generally fully deductible for tax purposes. This differs from the purchase of equipment where the tax-deductible portion becomes the capital cost allowance (CCA) plus interest if you have financed the purchase. ... Therefore, his monthly payments are $5,650.