It's one of those "it depends" situations.
The IRS's rules that allow COBRA to be deductible are set forth here:
https://www.irs.gov/uac/newsroom/dont-miss-the-health-insurance-deduction-if-youre-self-employed
The crucial factor here - something you didn't address in your question - is whether the policy is in your wife's or the business' name.
Tom Young
