Can I Deduct Life Insurance Premiums On Schedule C?

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   Peggy MacePRO

   Most of the U.S.

   No, unfortunately, you cannot deduct life insurance premiums on schedule C of your income tax return. Generally, only C Corporations are allowed to deduct life insurance premiums, within certain guidelines. Your tax attorney or CPA can provide legal advice to you regarding the deduction of life insurance premiums for businesses.

   Answered on September 4, 2013

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