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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
Keogh plan
Retirement plan set up by a self-employed person, providing tax-deductible contributions, tax-free income accumulations until withdrawal, and favorable averaging for qualifying lump-sum distributions.
