Deducting medicare payments.

[moneysense]

Did you know that if you are self employed that you can deduct your medicare payments. Here are the facts on that deduction.

Folks who continue to run their own businesses after qualifying for Medicare can deduct the premiums they pay for Medicare Part B and Medicare Part D, and the cost of supplemental Medicare (medigap) policies. This deduction is available whether or not you itemize and is not subject the 7.5% of AGI test that applies to itemized medical expenses

So if you are self employed, be sure to take advantage of this deduction.