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posted Jan 21, 2021 5:19:29 PM

Do I need to have general liability insurance for my handmade goods business if my sales are generally from internet, Farmers Markets and Craft shows?

If I choose to carry general liability for my business can use the expense on my taxes?

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2 Replies
Level 15
Jan 21, 2021 5:27:59 PM

Any expense you incur in the course of your business that is ordinary and necessary can be deducted.  

Expert Alumni
Jan 21, 2021 5:30:39 PM

You can deduct the cost of general liability insurance from your business income on your business tax return or schedule.

 

I cannot comment on legal issues, as this is a forum primarily for income tax return issues.