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Q: Can medical malpractice insurance be deducted after the partnership goes out of business?
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Good things of been on a partnership business?

Losses (in early years) are deducted from other income of partners for tax purposes.

Should social security be deducted from paycheck before or after health insurance is deducted?


What are business deductions?

these are expenses which are deducted from the income of a business and reduce their amount of taxable income. for example, the cost of a renting a store will be deducted from a stores profit.

What rights do an employee have if their company deducted insurance premiums from their pay but failed to pay the insurance premiums to the insurance company and the insurance was canceled?

Seek an Attorney.

Are taxes taken out of life insurance?

Personal life insurance proceeds are generally paid out free of income taxes as long as the premiums were paid with after-tax dollars. But if a business paid the premiums and deducted the premiums as an operating expense, then the life insurance proceeds would be taxable to the beneficiary.

What is left after all the expenses of running a businesss are deducted from the income?

Profit and wealth is left after all the expenses of running a business are deducted from the income.

What is best definition of gross income?

Gross income is the money you earn before taxes and national insurance has been deducted. Once deducted, you are left with a net income.

When claiming the death benefit from life insurance are there any fees deducted from the funds owed to the beneficiary?

If there is any outstanding premium, the same is deducted while settling the death claim, though no other fees are deducted from the funds owed to the beneficiary.

What does the word deductible mean?

Nothing, it is not a word in English.Deductible is. It means an amount removed from the principle sum. It can also mean the amount you have to pay on an insurance claim

Are business expenses deducted before paying child support?

Generally, yes.

Can health insurance premiums be deducted from your health savings account?

The premiums you pay for your health insurance are qulified medical expenses. Source: IRS.Gov

Can I have my life insurance deducted from my paycheck pre-tax?

No. method of payment does not change the taxability of the premium.