I am an employee of a company and I have health insurance through them, pre tax. My company only pays for me so I have private insurance for my wife and kids. I also have a side business, and was told by a tax professional last year that I can write off the private insurance premiums for my family (not me) under my side business, so long as the the write-off amount does not exceed the amount of profit by the business. Note, I am the only employee of the business.
Is this true? How do I accomplish this? I assume it is somewhere on the Schedule C form.
Thanks in advance!