Generally, yes. Premiums paid for business insurance are considered a legitimate business expense and can be deducted from your taxes.
Dig deeper
Yes, general liability insurance premiums are typically tax-deductible as a business expense. Consult with a tax professional to ensure compliance with tax laws.
Real World Example
A marketing agency deducts its general liability insurance premiums as a business expense when filing taxes, reducing overall taxable income.
Expert Considerations
Consult with a tax professional to confirm the deductibility of your general liability insurance premiums as a business expense.
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