Physician practices are a specified service trade or business under Section 199A. Here's how the 20% QBI deduction phases out, with 2026 IRS thresholds.
|Articles|November 19, 2010
Deduct long-term care premiums
Find out whether premiums for long-term care policies are deductible.
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A: Yes. Businesses are permitted to deduct premiums up to fixed dollar amounts, which are set based upon the age of each employee insured.
For an individual purchasing a policy, premiums are only deductible to the extent that they exceed 7.5% of adjusted gross income. It is deducted on Schedule A attached to the 1040 form.
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