Can I deduct insurance depreciation on taxes?

Answer You can deduct insurance depreciation on taxes. Insurance costs are not fully deductible in the year you pay. The cost of the insurance is returned through depreciation. This reduces taxable income... Read More »

Top Q&A For: Can I deduct insurance depreciation on taxes

Can I deduct my health insurance premium from my taxes?

If you are self-employed and your business had net profit, you can deduct the health insurance premiums you paid for you, your spouse and your dependents. You can't deduct premiums paid to an insur... Read More »

Can I deduct health insurance costs on taxes?

Unreimbursed health insurance costs count as a medical expense for tax purposes. If your total medical expenses exceed 7.5 percent of your adjusted gross income, you can deduct the excess if your i... Read More »

Can i deduct my insurance premiums paid to an employer on my taxes?

On One Hand: No You Can'tIn most cases, employee contributions to group health plans are not tax deductible expenses. This is because they are generally bought with pre-tax dollars. In other words,... Read More »

Can you deduct long term disability insurance premiums on taxes?

No, you cannot deduct premiums paid on disability insurance policies. Two senarios, first if your employers pays the premiums you would receive the disbursements as taxable income. If you pay your ... Read More »