This is the cost of insuring your business. Examples include workers comp and general liability insurance. Don't include things like your health insurance in this category.
Note: If you have a home office and made payments for homeowner's insurance, don't use this category. When you take the simple deduction (based on square footage) the insurance estimate is covered already.
We automatically categorize these transactions for you as insurance:
- Business insurance
- Other property insurance
You can also enter these as insurance:
- General liability insurance
- Workers’ compensation insurance
- Fire, theft, and flood insurance (for an offsite office or storage space)
- Renter's insurance (for an offsite office or storage space)
- Errors and omissions insurance
- Malpractice insurance
- Business interruption insurance