2007-01-19 11:54:01 · 4 answers · asked by randy v 1 in Business & Finance ➔ Taxes ➔ United States
Only if it is part of your business.
2007-01-19 11:57:25 · answer #1 · answered by froggyvrg 3 · 0⤊ 0⤋
Most of the time no unless it is a business insurance premium that is needed for your company.
2007-01-19 11:57:58 · answer #2 · answered by andy 7 · 0⤊ 0⤋
what kind of insurance are we talking about?
health insurance - yes only if you are self-employed. it gets deducted on the face of the 1040.
life insurance - no
home insurance - no
car insurance - no
if you pay insurance as part of your business, ie workers compensation, liability insurance, etc. this would be a deduction on the business tax return, not your personal tax return.
2007-01-19 21:06:47 · answer #3 · answered by tma 6 · 0⤊ 0⤋
Not as an individual.
Yes as a business.
An individual who gets excessive life insurance from his employer will have to declare the excess as income.
2007-01-19 11:59:18 · answer #4 · answered by fcas80 7 · 0⤊ 1⤋