Is Disability Insurance Deductible On Schedule C?

  1. 4470 POINTS
    Brandon Roberts
    Owner, The Insurance Pro Blog,
    Yes but the type of product and the insured will determine if you can deduct the premium.  Individual disability insurance plans that cover you as the owner of the business are not deductible.  If a qualified sick pay plan is established premiums may be deductible.  This approach generally requires the establishment of an LLC or C corp.
    Answered on September 1, 2013
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