If your professional liability insurance is deductible for your occupation, you may be wondering how to write it off.
The process is actually quite simple. Tally up the total cost of the plan premiums that you’ve paid over the course of the year. Then add it as a deduction on Line 212 of your income tax return.
Please note, the above should not be taken as formal financial advice. For expertise regarding your specific situation, please consult a financial professional.