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I am self-employed. I pay for my own long term disability insurance and for office overhead insurance. I know one of them is deductible, the other isn'...but can't remember which is which.. Anyone know?
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<< I am self-employed. I pay for my own long term disability insurance and for office overhead insurance. I know one of them is deductible, the other isn'...but can't remember which is which.. Anyone know? >>

Personal disability premiums are not deductible, nor are benefits taxable, but we'll hope you never deal with that part. I don't know what office overhead insurance is, but I'm guessing it's some sort of coverage to keep the business going while you can't. If so, I'm not sure of the answer, but I think it would be a qualified Schedule C expense.

Phil Marti
Tax Preparer
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