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I think there was a misunderstanding unfortunately. LTD and STD premiums for oneself are not tax deductible as far as I know.Hello,
I’m trying to find out if and how I will receive any tax benefits for paying for LTD and STD payments at work. For the year of 2016, I paid $915.24 and $539.10 in deductions from my paychecks for our work plan. I’ve been told the benefits are tax free once claimed so I’m assuming the cost is 100% paid by the employee. I’ve complained about this (because it takes about $100 off every paycheck and I work in the office of a fab shop – so I’m highly unlikely ever to claim this but I am not allowed to opt out). Anyways I was told I can claim this on my taxes and likely get a benefit from it. Searching online only brings me to questions about people who have actually been receiving the short term or long term payments.
Can anyone explain how and where I can claim these expenses?
Your employer can pay for them without it being a taxable benefit to you (which is essentially equivalent to having it be tax deductible) but in that case the benefits would be taxable when claimed.