I recently left my place of employment and started my own company, can I deduct the cobra payments as a business expense for tax purposes?
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COBRA payments are not deductible as business expense. Per IRS, the insurance plan must be in your name to qualify, COBRA is in your former's employer's name.
But you can deduct COBRA payments as your personal medical expenses:
COBRA payments are not deductible as business expense. Per IRS, the insurance plan must be in your name to qualify, COBRA is in your former's employer's name.
But you can deduct COBRA payments as your personal medical expenses:
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