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What are protection of income expenses? Are legal expenses included if spent trying to protect income?

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Smith Watson Posted

What are protection of income expenses? Are legal expenses included if spent trying to protect income?

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KEVIN Feigin

Protection of income might be disability insurance.

As an employee, you can deduct mandatory contributions to state benefit funds withheld from your wages that provide protection against loss of wages. For example, certain states require employees to make contributions to state funds providing disability or unemployment insurance benefits.

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