What would you like to do?
Is business travel insurance tax deductible?
Answer Most non-reoccuring closing costs can be deductible on your taxes. Check with your accountant or tax preparer for detailed information.
Lie and exaggerate. ans While the above may seem to have the result asked for, that would be as wrong as the answer itself is stupid. The deduction provided by… Lieing and Exaggerating isn't attributable to business travel, but rather to criminal fraud and theft. Really good record keeping helps in all regards...if it ever proves you have a better deduction using an allowed base, like cents per mile, you can use the alternative. If it shows a better result, you've gt it too.....and as anytime your really going over standards, it makes sense you should be prepared to address why, your golden. See link for the droll things, and click on the publication 463 link there too.
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so …on can be deducted.
It was an officially recognized practice beginning in 1943 during the War effort. Companies were finding it difficult to attract enough workers because of the limitations on w…ages imposed on them by the government. The companies began offering to pay health insurance expenses for their employees as a way to attract more employees since they couldn't increase their wages. In 1943 the IRS recognized this. In 1954 Congress codified this practice into the tax code. Portions of contributions that may be more more of a discussion or opinion in nature have been moved to the discussion page.
Not deductible on your federal income tax return.
If you are referring to a MEDICAL/HOSPITALIZATION insurance co-pay, yes, that is deductible as a medical expense. And on property/casualty insurance, it may be deductible as a… casualty loss.
Generally as personally owned life insurance you would not deduct the premiums on your taxes. This would make the normally nontaxable death benefit subject to taxation.
I am not finding an answer to my question---Are the premiums on my medicare supplement tax deductable? Please help!
Generally, the premiums are not deductible, and benefits would not be taxable income.
I think you maybe using the wrong verbiage here? Usually the term "Health Insurance Riders refers to exclusions for Pre-existing conditions that are excluded from your policy!… Do you mean Health Insurance Premiums? Premiums are the amount you pay monthly or yearly to be insured. If you mean premiums they are tax deductible for some people, but deductions all depend on your income level, tax bracket, and several other factors that your CPA should help you with. Because what is deductible for one is not deductible for all!
No, insurance is not deductable.
It depends on the business traveler's individual circumstances. Company travel policies, localities of travel, IRS travel regulations and procedures, overnight travel vs day t…ravel, foreign vs domestic travel,and adequacy of record keeping are all factors that need to be considered when deciding what should actually be deducted on your tax return.