Charlie is single and operates his barber shop as a sole proprietorship. During the current year, Charlie paid $2,200 for his personal health insurance plan and $4,000 for health insurance for his employees. How much of these premiums can be deducted for Charlie's adjusted gross income?

Question

Quizplus · Accepted Answer

Charlie can deduct both his personal health insurance premiums ($2,200) and the premiums paid for his employees ($4,000) as business expenses, totaling $6,200.

Charlie Is Single and Operates His Barber Shop as a Sole