May is a self-employed bakery business owner. She has 3 employees. She offers medical insurance...
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Accounting
May is a self-employed bakery business owner. She has 3 employees. She offers medical insurance coverage to her employees. Her employees paid $25,000 toward their medical insurance premium from withholdings from their paycheck. May paid an additional $85,000 toward the medical insurance premiums for her employees. How much of a deduction can May take for the medical insurance premium expense on her Federal Income Tax Return?
Group of answer choices
a. $0
b. $25,000
c. $85,000
d. $105,000
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