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Submitted By: someone
Answered: August 28, 2017 10:56 pm
Answered: August 28, 2017 10:56 pm
I’m a sole proprietor and opted in to workers’ compensation. Can I deduct my premiums on Schedule C?
Workers’ compensation premiums are deductible by a self-employed individual. There is no dollar limit or other restriction on this write-off.
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Tax Glossary
Qualified plan
A retirement plan that meets tax law tests and allows for tax deferment and tax-free accumulation of income until benefits are withdrawn. Pension, profit-sharing, stock bonus, employee stock ownership, and Keogh plans and IRAs may be qualified plans.
