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Is "insurance write off" the same as "tax write off"?

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3 comments

  • Ruth

    Hi Amanda, the write-off will not be accounted for as taxable income because you didn't receive that money. 

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  • amanda parsons

    Thank you, Ruth!

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  • Aaron Collins

    If you perform a service for someone and you are donating that service, and you are not recieving any cash payment for that service, can you you provide an invoice for tax "write-off"?  It would be same as donating a car that is worth $10,000 dollars and getting a reciept that says you donated it and using it as a tax "write off". We are providing a service that we are not being paid full value for. That should be a tax write off, but I'm not an accountant. Does anyone know if this is making sense? 

     

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