Question:
Someone set up a company (even though they are a therapist who is really self-employed) and their medical insurance is paid by the company and so is tax deductible.
- Can you deduct it from your maaser earnings?
- How about home office, internet, and other expenses?
- How about professional conferences for networking, or for professional development?
Answer:
Hello,
- This essentially is you own medical insurance, which is really a personal expense, therefore you can not deduct this expense from your earnings.
- Whatever expenses are needed in order to run your business, are considered business expenses, such as office, and internet expenses needed for your business.
- This is a gray area, and I would need to know more about the specifics, about the need to go to the conference etc. in order to answer you.
Best wishes
