Income tax policy, rules, problems, strategy and software. Property and consumption taxes too.
1 post • Page 1 of 1
A sole proprietorship can deduct a private medical plan or expenses which has a higher benefit usually than the standard medical deduction. One condition is active business income and no more than 10k of non business other income. Does other income include realized and taxable capital gains so that more than 20k of capital gains cancels this deduction and you must use the regular 3 percent of income or 2800 whichever is greater ?