Can You Get Small Business Insurance for LLC?
As a small business owner, you may be wondering whether you can get small business health insurance through your LLC. You may be eligible to purchase small business health insurance or individual health insurance for yourself, depending upon how you set up your LLC and its tax structure. You can generally deduct the cost of individual health insurance from your taxes as a self-employed LLC member, although this ultimately depends on several factors, including the tax classification of the LLC and for whom the deduction is being taken out. Continue reading to learn about how health insurance works for LLCs. What is an LLC? A limited liability company , commonly abbreviated as LLC, is a business structure with both “pass-through” taxation and legal liability separate from its owner. Like a sole proprietorship, an LLC has “pass-through taxation,” which means that the income and loss of the business is reported on the personal income tax form of the business owner. ...
