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I am self-employed and I have Disability Insurance. Can I deduct the premiums for this insurance on my taxes?
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Self-employed individuals may be able to deduct the premiums for Disability Insurance on their taxes, but it depends on certain factors. Disability Insurance premiums are generally tax deductible for self-employed individuals if the policy is purchased with after-tax dollars and the coverage is for the individual's own benefit. However, if the premiums are paid with pre-tax dollars through a business entity, such as a corporation or partnership, they may not be tax deductible. It's important to consult with a tax professional or accountant to determine the specific tax deductibility rules and requirements for your situation.
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