Do taxes and insurance have any thing to do with one another?

Question

Basically do either of these things have any thing to do with each other in any way what so ever. Basically if you work with one would you ever come across the other in any way shape or form?

Cheers,

Answer 1

Some forms of insurance - could arguably be considered ..

Stealth Taxes, for example -

Health & dental Insurance.

Payment protection.

Mortage Protection.

Travel insurance.

Depends on what - State or country you pay your taxes, of course - National insurance, was tradionally a state payment

to help cover health benefits etc.

I believe - Insurance companies are not regulated properly, and consumer agencies, ombudsman etc. Are terrible at protecting interests of consumers.

Answer 2

Yes.   Taxes and insurance are both business expenses.   If something isn't covered under insurance, you can usually write it off on your taxes.  Some types of insurance policies have tax charged on them.

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