Is Renters Insurance A Tax Write Off?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   Generally speaking the expenses involved with your residence are not deductible (except for the interest on a mortgage and property taxes.)  However, if part of the residence is being used for business purposes, either as an office in the home, or even a storage facility, a portion of the expenses of the home can be deducted, including insurance, as a reasonable business expenses.  That portion is the part of the building being used for the business purposes.

   Answered on April 30, 2014

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