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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?

for more info see www.steveshorr.com/life.htm

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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?

no


Can you deduct life insurance premiums on taxes?

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

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

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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!


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