do interest expense and insurance expense go under selling expense?

Answer 1

Most income statements break down administrative and sales expenses. Interest and insurance expense would generally fall under administrative expense. If you have a small company you may not even have a breakdown of expenses. Just income minus expenses equals gross profit.

Now if your asking if business interest and business insurance expenses are tax deductible. The answer is yes.

Answer 2

On an income statement, also known as a statement of income and expenses, I prefer to keep interest expense, insurance expense and selling expenses each in their own category so I can track them.

Answer 3

Insurance Expense On Income Statement