My wife and I are retired. I have a government pension, and my wife has SSI pension.
Let say, I start a single member LLC. The self-employment tax rate is 15.3% consists of 12.4% for social security and 2.9% for Medicare.
Why pay Medicare again as we both pay Medicare Premium every month? Can we deduct that?
If so and if I am the single member LLC and my wife wasn’t, can I deduct her Medicare premium too if we file jointly?
