Hello
I am contemplating pivoting over to a 1099 position to gain a little more free time & autonomy while continuing to earn a living.
I am deciding whether I will take my employers COBRA benefits for healthcare for the next 18 months, or purchase my own.
Does anyone know if COBRA benefits qualify as a deduction as a 1099 independent contractor?
Says here “usually, you can’t deduct COBRA premiums because the IRS requires the insurance plan be established under your business. Typically, your COBRA plan would be established under the business name of the employer providing the coverage — not under your business.”
Does anyone have any experience with this?
Thanks you
submitted by /u/derzjaboi
[link] [comments]Hello I am contemplating pivoting over to a 1099 position to gain a little more free time & autonomy while continuing to earn a living. I am deciding whether I will take my employers COBRA benefits for healthcare for the next 18 months, or purchase my own. Does anyone know if COBRA benefits qualify as a deduction as a 1099 independent contractor? https://www.creditkarma.com/tax/i/deduct-cobra-insurance-costs#are-cobra-costs-considered-a-business-expense Says here “usually, you can’t deduct COBRA premiums because the IRS requires the insurance plan be established under your business. Typically, your COBRA plan would be established under the business name of the employer providing the coverage — not under your business.” Does anyone have any experience with this? Thanks you submitted by /u/derzjaboi [link] [comments]Read Morer/HealthInsurance