Mixing Personal & Commercial Insurance

[Nathan Emmert]

I'm visiting with an insurance guy tomorrow to discuss moving my properties under a commercial insurance policy. As part of that, to get the rates we discussed, I would need to bring my personal insurance over as well, but the rates quoted on the personal insurance is higher than what I'm currently paying.

Would that difference be tax deductible against my business income?

For example, my cars right now are something like $145/mo... the new policy would be $195/mo... can I write off that $50 increase?

Same on my homeowners... would go up about $200 a year... can I write off that $200?

Btw, doing this saves me about $3,000 a year even after those extra costs so it still makes sense, just trying to make sure I don't short change my deductions... thanks!