Biz Write-Offs LogoBiz Write-Offs

Liability insurance for therapists

$200-$600/yr

Can You Write Off Liability Insurance for Therapists?

Short answer: Yes for private practice; group-practice employees can't federally.

Self-employed people deduct ordinary and necessary business costs on Schedule C, which lowers both income tax and the 15.3% self-employment tax.

Records to keep: Keep receipts, 1099s or W-2s, a mileage log, and a note of the business purpose. W-2 employees should ask about employer reimbursement.