Is Disability Insurance Money Taxable?

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   David RacichPRO

   Fountain Hills, Arizona

   If you’re a legitimate business and you expensed or deducted the disability premium, then disability benefits are taxable at ordinary income tax rates. If there was no business deduction, then disability benefits are distributed tax free. Before deciding if the deduction makes sense determine your effective tax rate first.

   Answered on June 12, 2013

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