Self-Employed LLC, Do I Qualify For ObamaCare?
I am co-owner in an LLC business. We started in late 2014. I do not take a salary but I file taxes for my half of the business. Do I qualify for Obama Care health care? We have no employees.
Answer
As a self-employed business owner you not only qualify for tax credits but can also deduct 100% of premiums for dental and vision helping to lower your Modified Adjusted Gross Income (MAGI).
The deduction is based on profit and tax credits are based on income. You'll need to claim at least 100% of the Federal Poverty Level to get tax credits.
This article on HealthInsurance.Org helps explain your options for deductions.