I am a sole proprietor and I have E & O insurance with a $5k deductible. I am aware that the premiums are deductible. If I had a claim for $1,000, can this be deducted?
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I am a sole proprietor and I have E & O insurance with a $5k deductible. I am aware that the premiums are deductible. If I had a claim for $1,000, can this be deducted?
I am a sole proprietor and I have E & O insurance with a $5k deductible. I am aware that the premiums are deductible. If I had a claim for $1,000, can this be deducted?
You didn't provide many details, but yes, more than likely that is a deductible business expense.
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