Every Tax Deduction Insurance Agents Can Claim

Vehicle & Mileage Deductions

• Business miles driven (use IRS standard mileage rate or actual expenses)
• Client visits and prospect meetings
• Carrier and agency meetings
• Industry conferences and training events
• Networking events and professional association meetings
• Supply and equipment pickups
• Parking fees and tolls for business trips

Home Office Deductions

• Dedicated home office space (must be exclusive and regular use)
• Percentage of rent or mortgage interest
• Percentage of utilities (electric, gas, internet)
• Percentage of homeowners/renters insurance
• Percentage of repairs and maintenance
• Home office furniture and equipment

Insurance Premium Deductions

• Errors & Omissions (E&O) insurance
• Business liability insurance
• Health insurance premiums (self-employed agents)
• Dental and vision insurance premiums
• Long-term care insurance (within limits)

Licensing & Education Deductions

• State insurance license fees
• License renewal fees
• NIPR fees
• Background check fees
• Continuing education courses
• Pre-licensing education (deductible once you start earning)
• Professional designation courses (CLU, ChFC, CPCU)
• Industry certifications
• Webinars and online training
• Industry books and publications

Marketing & Advertising Deductions

• Website hosting and domain fees
• Business cards and printed materials
• Online advertising (Google, Facebook, LinkedIn)
• Lead generation services
• CRM software subscriptions
• Email marketing platforms
• Social media management tools
• Promotional materials and branded merchandise
• Professional photography
• Video production for marketing

Office Supplies & Equipment Deductions

• Computers and laptops
• Tablets and smartphones (business-use portion)
• Printers, scanners, and copiers
• Office furniture (desk, chair, filing cabinets)
• Software subscriptions (quoting tools, document management)
• Paper, ink, envelopes, folders
• Postage and shipping costs
• Business phone line or cell phone (business-use portion)
• Internet service (business-use portion)

Professional Services Deductions

• Accounting and bookkeeping fees
• Tax preparation fees (business portion)
• Legal fees for business matters
• Consulting fees
• Virtual assistant services
• Payroll processing fees

Professional Membership Deductions

• NAIFA membership dues
• State and local insurance association dues
• Chamber of commerce membership
• BNI or other networking group fees
• Industry-specific association memberships

Travel Deductions

• Airfare for business trips
• Hotel accommodations
• Ground transportation (rental car, rideshare, taxi)
• Conference registration fees
• Meals during overnight business travel
• Baggage fees
• Business-related tips

Business Meal Deductions

• Client meals (when business is discussed)
• Prospect meetings over meals
• Referral partner lunches
• Team meetings at restaurants
• Note: Keep records of attendees, business purpose, and amount

Retirement Contribution Deductions

• SEP-IRA contributions
• Solo 401(k) contributions
• SIMPLE IRA contributions
• Traditional IRA contributions

Other Deductible Expenses

• Half of self-employment tax paid
• Business bank account fees
• Credit card processing fees
• Business credit card interest
• Client gifts (up to $25 per person per year)
• Thank-you cards and client appreciation items
• Bad debts from uncollected fees
• Business startup costs (first year)

What's NOT Deductible

• Personal clothing (even if worn to client meetings)
• Personal grooming expenses
• Commuting to a regular office
• Personal portion of mixed-use items
• Entertainment without direct business purpose
• Political contributions
• Gym memberships (unless medically prescribed)

Record-Keeping Checklist

• Save all receipts and invoices
• Maintain mileage log (date, destination, purpose, miles)
• Keep bank and credit card statements
• Document business meal details (who, what, why)
• Store home office measurements and calculations
• Track business-use percentages for mixed-use items
• Keep records for at least 3 years (7 years recommended)

Source: IRS Self-Employed Individuals Tax CenterSmall Businesses Self Employed Self Employed Individuals Tax Center Businesses