Can a business owner deduct medicare payments

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For several years now the self-employed have been able to deduct their medical insurance premiums on their federal income tax return assuming the business was profitable. The IRS position has been that Medicare premiums which are medical insurance payments as well where not deductible.

The IRS has changed their position and now if you are self-employed your Medicare payments are deductible just like any other medical insurance payment would be.

http://www.aicpa.org/InterestAreas/Tax/NewsAndPublications/taxnews/Pages/20120716.aspx

If you have any questions feel free to ask how it might apply to your real estate business.