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

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amanda parsons

• February 14, 2021 00:11

SP includes a column for "insurance write off," which lists the difference between my billed rate and the negotiated rate.  Does this represent the amount I'm eligible, as an LLC, to write off on my income taxes for that claim?

 

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  Ruth

  • February 23, 2021 22:04

  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

  • February 24, 2021 14:07

  Thank you, Ruth!

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