This is a YouTube video titled "Is Disability Insurance Tax Deductible? #doctor #personalfinance #money #insurance" containing a monologue or informational talk recorded on July 13, 2024, discussing the tax implications of disability insurance policies, particularly for self-employed doctors and employer-provided plans.
As a general rule, no disability insurance is not tax deductible. Individual policies are paid for with post tax dollars and pay out tax free dollars as benefits. Employer provided policies can be paid for with pre tax dollars a tax deduction for the business and thus pay out fully taxable benefits in the event of disability. However, self employed doctors generally do not have a C Corp business structure that allows pre tax disability benefits.
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