In the eyes of the IRS, workers compensation insurance is typically tax-deductible. You’ll want to make sure to keep track of your premium payments and include them at tax time.
As with anything related to taxes, it’s a good idea to talk with an accountant or other tax professional who is familiar with your business. They can provide the best advice and guidance for you.
So to reiterate what was listed at the beginning of this article, keep these questions handy so that you can get the answers you need regarding “Everything Workers Comp Insurance.”
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.