No matter what your industry, insurance is an expense almost every business owner is likely to incur. Whether it be general liability, error and omission, life, disability, renters, or other, if your policy is related to your business your premiums will likely be deductible on your Schedule C. Note that our discussion below does not include health insurance and related deductions, which are covered on the following pages: “Self-employed Health Insurance Deduction”, “Small Business Health Care Tax Credit”, “Health Savings Account” and “Deductible Medical and Dental Expenses (Itemized)”.
