Sentences with phrase «deducted legal insurance»
This practice is a radical departure from your grandfather's legal benefit, which would take the form of a voluntary, payroll deducted legal insurance or pre-paid legal type product.
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C corporations can also deduct fringe benefits such as qualified education costs, group term life insurance up to $ 50,000 per employee, employer - provided vehicles and public transportation passes, pre-paid legal assistance, child and dependent care, discounts on company products and services, and qualified achievement awards.
Having your sole proprietorship or individually owned company pay your life insurance premiums so as to deduct these expenses from your business» taxable income would be just such an attempt and is therefore not legal.
Self - employed taxpayers and other business entities can deduct business - related insurance premiums of any kind, including health and dental insurance premiums, as well as legal and liability coverage.