I know that deducting life insurance premiums are not usually an expense.
My client is a life insurance agent who is considered a statutory employee. He receives a w-2, puts that on a Schedule C and deducts all of his business expenses on the Schedule C.
He "claims" his boss told him as a condition of employment he has to buy life insurance policies on himself and his family. He was told he could claim these as a business expense since it was a condition of his employment . Of course his boss will not provide him with any thing in writing to back up claiming the premiums as a business expense.
Anyone have experience with life insurance agents claiming this expense?. Thanks