If the taxes taken out of the bonus are too little, you may owe additional tax when you file your tax return. There are a couple of things to think about: Bonuses in a Combat Zone. If you are able to receive your bonus while you are located in a Combat Zone Tax Exempt area, then you wonât owe federal income taxes on that money. Schwing!
California Children's Services (CCS) California Children's Services (CCS) is a statewide program that arranges, directs, and pays for medical care, equipment, and rehabilitation, when these services are authorized by the program.
Where to Deduct Health Insurance Premiums. Self-employed persons and more-than-2% shareholders of a S corporation claim the health insurance deduction for premiums paid directly on Line 29 of Form 1040.If you're a sole proprietor or a single-member LLC and you did not elect to treat the LLC as a C or S corporation, you would be a Schedule C filer. Claiming the deduction: 2  The health insurance deduction may not exceed the net profit from the business under which the health insurance premiums are paid, less deductions claimed for 50% of self-employment tax and Keogh, SEP, or SIMPLE retirement plan contributions.