Self-Employed Want Insurance Deduction

The Atlanta Business Chronicle has a story today about the health-care costs for the self-employed.

Other types of businesses can deduct health insurance costs as a normal business expense. Sole proprietors can deduct these costs when they calculate their income taxes, but not when they calculate the 15.3 percent self-employment tax, which covers Social Security and Medicare... The average self-employed individual pays $12,106 a year for family health coverage, according to the Kaiser Family Foundation. He or she could save $1,852 in payroll taxes if these costs were deductible.

Rep. Ron Kind, D-Wis introduced H.R. 3660 that would provide the tax deduction for the self-employed. It was referred to the Committee on Ways and Means.