Is Self-Employed Disability Insurance Tax Deductible?
12689 POINTSview profileTed RatliffOwner, SFS Associates,Check with your tax adviser, but as a general answer, yes it would be. In most cases a self employed individual can deduct premiums, including disability insurance, from their taxes. There may be some changes in this regard with implementation of the Affordable Care Act so again, check with your tax adviser.Answered on May 20, 2013flag this answer
11783 POINTSContact Meview profileLarry GilmorePROAgent Owner, Gilmore Insurance Services, Marysville, Washington StateIs Disability Insurance tax deductible for the self employed? Yes, it can be, but one should always double check with their trusted tax advisor on matters like this to make certain. One thing to keep in mind, that if a tax deduction is taken for the premium, the disability insurance benefit will be taxable income.Answered on May 20, 2013+11+1 this answer
0flag this answerview more answers by Larry Gilmore
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
