Are health, life, and automobile insurances deductable on my schedule C. I am a self employed commision sales person.
Health & automobile insurance are deductible but life insurance is not. You do not want life insurance to be deductible because then the death proceeds -which always exceeds the premiums paid- would be taxable! To know what you can deduct you need to visit our website at www.TaxDeductionsByOccupation.com and download the "Tax Deduction CheckList" specific to your occupation or profession. Also visit the "Special Section" to download your "Home Office" or "Commercial Office" deductions and your "Automobile, Truck & Transportation Deductions CheckList". When you download your occupation or profession specific Tax Deductions CheckList, it will indicate the other downloads that you need. Jennifer Stokes, Licensed CPA www.TaxDeductionsByOccupation.com http://TaxDeductiosByOccupation.blog.com www.1040.com/StokesTaxService
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