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Yes, but it might not be a good idea as then the benefit would be taxable. Are you talking about YOUR coverage or for your employees?

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โˆ™ 2015-07-15 18:45:48
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Q: Can you deduct life insurance premiums as a business expense?
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Can you deduct life insurance as a business expense?

Not likely.

Can you deduct health insurance premiums you paid?

If you file Schedule A (long form) you can deduct your health insurance premiums as a medical expense. If you pay this through your employer, most likely you have it paid from pre-tax income such as through a cafeteria plan, then you are not allowed to deduct the premiums.

What percent of health insurance premiums can business deduct as business expense?

about 10-20% because of the off and on differences the health has. the 401(k) would most likely benefit from this.

Can you deduct long term disability insurance premiums on taxes?

No, you cannot deduct premiums paid on disability insurance policies. Two scenarios, first if your employers pays the premiums you would receive the disbursements as taxable income. If you pay your own premiums, then you would receive the disbursements tax free. Either way, you cannot deduct on your individual income tax the premiums paid. Think about it! If your employer paid the premiums, there was no expense to you, hence no deduction!. If you paid the premiums, you do have an expense BUT you are receiving the disbursements tax free and therefore could not take a deduction!

Can you deduct your life insurance premiums?


Can you deduct life insurance premiums on taxes?


Can you deduct insurance premiums as a medical expense on federal taxes?

Can I add my monthly health insurance payment from my employer to my medical deductions, such as medications prescribed, office visits, etc..

Is buy sell agreement disability income insurance premiums tax deductible?

No. Also, it is probably not a good idea to try and deduct the premiums for diability or life insurance because if you deduct the premiums or if the employer pays the premiums then any benefits are then taxable. You certainly would not want to have to pay income tax on a large life insurance benefit just because you wanted to deduct a few hundred dollars of insurance premiums.

Can a Self employed person deduct health insurance premiums on their taxes?

Yes, beginning in tax year 2010, you can deduct health insurance premiums when arriving at income subject to SE tax.

Can you deduct group insurance premiums on taxes?

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.

Can you deduct private mortgage insurance?

PMI is not a deductible expense.

You are a business owner can you deduct your life insurance premiums as a business expense?

As a business owner you can fund the policy from the retained earnings (RE) of the buisiness for individual use or coverage. This will allow the business owner to fund the policy from a pool of money that is taxed at the business level vs his/her individual taxation level (usually highest tax bracket)

Can an s-corporation shareholder deduct life insurance premiums?

Assuming the purpose of the insurance is for a buyout or keyperson, the answer is no.

What is formulated into payroll tax deductions?

You will always want to deduct any taxes that are paid out of your income. You can also deduct premiums for life insurance, as well as other types of insurance.

Can you deduct cancer insurance from your taxes?

Generally, the premiums are not deductible, and benefits would not be taxable income.

Can you deduct life insurance on taxes?

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.

Can I deduct the business expense of credit card purchases?

If you are deducting business expenses it is same whether they are on credit or cash or check. Deduct them with written records of who, what, when, where and why, the same as any other business expense. There must be a valid business reason for the expense. If you charge it in 2008 and don't pay until 2009, it goes in 2008. - HR Block preparer

Deduct Your Laptop Computer Expense?

Are you a blogger at home? Do you run a hair business at home? Whatever the case, you may be able to deduct the expense of a laptop computer for your personal business. Do not forget to deduct the expense of a laptop computer when filing your taxes. A laptop computer can offer a great opportunity for potential savings on your taxes. Bloggers are able to deduct the expense of a laptop, because a majority of their income comes from their creating blog posts through a laptop computer. A hair stylist may also deduct the expense of a laptop computer if she uses it so make hair appointments.

Can you deduct Medicare supplement insurance on taxes?

I am not finding an answer to my question---Are the premiums on my medicare supplement tax deductable? Please help!

Can you deduct a donation your business made as a business expense if you promote it as part of your marketing?

I own a marketing company and gave away a couple of videos to promote my new business. Can I deduct what I would have charged for those videos?

Can you deduct stock website membership fees?

Yes, you can deduct them either as an itemized deduction if you are filing a personal return, or if you are treating it as a business you can deduct them as an itemized deduction. The problem is that's not very fun because most people typically take the standard deduction. Maybe you were considering offering business advice, and as such the subscriptions are an expense. So, you could deduct them on a Schedule C. Generally I write mine off as a business expense because I have a business which deals with investments, because if they go as an Itemized Deduction I lose them at some point.

Can you deduct cable on tax return?

not unless you can write it off as a business expense, i however doubt that would be a correct statement of why you have cable

Can employers office group life insurance to employees on a pre-tax basis?

If I'm understanding the question correctly, then yes, employers can deduct premiums for group life insurance on a pre-tax basis.

How can you change how your Medicare premiums are paid?

If on medicare you can't, b/c social security will deduct b/c you get your payment. If you have a supplement or mapd policy call insurance carrier

Can you deduct your pet insurance on your taxes?

No, insurance is not deductable.

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