Business Insurance Tax Deductions
All insurance premiums paid to protect your business operations are deductible. Essential coverage types include general liability, property, and professional indemnity.
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check_circleWhat You Can Deduct
- checkGeneral liability insurance
- checkBusiness property insurance
- checkProduct liability coverage
- checkBusiness interruption insurance
- checkCommercial umbrella policy
- checkDirectors and officers (D&O) insurance
lightbulbTips for Keeping Records
- tips_and_updatesBundle multiple policies for potential discounts while deducting the full amount
- tips_and_updatesReview coverage limits annually as your business grows
- tips_and_updatesKeep certificates of insurance organized for vendor and client requests
- tips_and_updatesPrepaid annual premiums are fully deductible in the year paid
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