Are health insurance premiums a business expense?

Answer If you are paying them for your employees as part of their compensation package, yes, it is a business expense. If it is for yourself, no, it is not a business expense, but it is usually tax deduct... Read More »

Top Q&A For: Are health insurance premiums a business expense

Are disability insurance premiums a business expense?

They can be if set up properly. For instance, if you are a business owner you would take out a DI plan as a Business Overhead Expense policy. The benefits are used to pay the lease or mortgage, uti... Read More »

Are health insurance premiums a deductible expense on an individual's federal tax return?

Health insurance premiums that you pay can be deducted on your federal income tax return using Schedule A. However, you must itemize your deductions, which requires forgoing the standard deduction.... Read More »

Is health insurance a business expense?

Health insurance is a business expense and can be deductible if it is common and helpful to your business or trade and if you operate your business to make a profit.References:IRS: Deductible Busin... Read More »

Can I use my HSA to pay for health insurance premiums?

Typically, you cannot use money from your health savings account (HSA) to pay for health insurance premiums. However, exceptions are made for premiums you pay for while receiving unemployment benef... Read More »