Small Business Tax Credits for Health Contributions

Small Business Tax Credits for Health Contributions

Offering health insurance to employees can be costly, but small businesses in Illinois may qualify for a federal tax credit to offset these expenses. The Small Business Health Care Tax Credit, introduced under the Affordable Care Act (ACA), allows eligible small...
Health Insurance Deductible Calculator

Health Insurance Deductible Calculator

Plan Your Healthcare Budget with a Deductible Calculator Managing medical expenses can feel overwhelming, especially when you’re trying to figure out how much you’ll owe before insurance steps in. That’s where a tool to estimate your health insurance costs comes in...
Medicare Premium Tax Deductions for Self-Employed

Medicare Premium Tax Deductions for Self-Employed

If you’re self-employed and enrolled in Medicare, you may be able to deduct up to 100% of your Medicare premiums from your taxable income. This deduction, available on Schedule 1 (Form 1040), applies to premiums for Medicare Parts A, B, C, D, and Medigap plans....
Medicare Chronic Care Plans by Illinois Carriers

Medicare Chronic Care Plans by Illinois Carriers

Medicare Chronic Condition Special Needs Plans (C-SNPs) are designed for individuals managing chronic illnesses like diabetes, heart disease, or cancer. These plans, offered by various Illinois carriers, provide tailored benefits, including dental, vision, and hearing...