Top 5 Things You Should Know About Taxes

No. 3: Health insurance premiums can be deducted

Hospital EquipmentPublic Domain Image: Public Domain

It is surprising how many people don’t actually know they can deduct their healthcare premiums; albeit, not in all cases. You’ll most likely see a benefit with medical expenses that surpass 7.5% of the adjusted gross income, but it is still a deduction worth taking into account. If you’re not covered by an employer’s health care plan, you can deduct your health insurance premiums in full.