How To Boost Your Tax Deductions

Key Takeaways

• If you're self-employed, claim health insurance premiums as a self-employed health insurance deduction (above-the-line) rather than itemizing them for a larger tax benefit
• Review your current deduction strategy with a tax specialist if you're over 65 and still working—you may be missing substantial savings
• Self-employed health insurance deductions are available even if you don't itemize other deductions, making them more valuable than medical expense itemizations for many business owners