Life insurance

[Plexi]

I know you can deduct health & shop insurance from your taxes but what about Life insurance?? Anyone know?????

[k9groomer8157]

My wife is the accountant around here (works for a CPA firm). I asked her and she says the business insurance is 100%. Insurance for employees is deductible for the business. As far as health and life insurance for the owner, that depends on what type of business you have set up.

She recommends you reading over the following

http://www.googobits.com/articles/p0...femployed.html

A lot depends on how you have set up the business and such. Also talk to your tax accountant - they will know your situation best and give you the best advice for you.