Monthly Archives: October 2017

Can I Deduct My Auto Insurance from My Taxes?

This common question is one that most people in Lakewood, CO forget to ask until tax time rolls around. In honor of being prepared though, Colling Insurance Services Inc. wants you to get everything together before April 15. The more you know about how auto insurance is seen by the government, the more you may end up getting back in a refund. 

How It Usually Works

Your auto insurance, just like your actual auto and its various expenses, is usually not eligible as a deduction from your taxes. Technically, these are expenses that the owner has willingly chosen for themselves, and thus don’t need to be accounted for when the government is trying to decide who gets what. 

The Exception to the Rule 

The exception to this rule is if you use a vehicle for work. Normally if you use a vehicle provided by your company, your boss or the powers that be are the ones who take care of the paperwork when it comes to that vehicle. You just drive it and expense the gas or maintenance costs that have to be done. However, if you’re self-employed then you may be able to deduct your auto insurance from your taxes.

Find Out More

It can get a little complicated if you use your automobile for both work and personal use though. In the case where you use the car for both in Lakewood, CO, you’ll need to calculate just how much you use your car for work. If it’s about half the time, then you can deduct half of the total cost of your insurance. If it’s only a few times a year, it may not be worth claiming at all. For more details, call Colling Insurance Services Inc. to find out more!

Surprising Benefits of Health Insurance

Most of us understand that health insurance helps cover our most common physical health concerns. But did you know that your insurance could assist with so much more? At Colling Insurance Services Inc., we’re dedicated to providing our Lakewood, CO customers with the most up-to-date information about all your insurance coverage needs. That’s why we’ve assembled this fascinating list of surprising health insurance benefits!

Psychiatric Coverage

Not many people know that health insurance isn’t just for physical health concerns. It can also provide coverage and assistance for mental health services! Most plans provide for certain categories of treatment, such as psychiatric counseling and prescriptions. Substance abuse treatment and rehabilitation may also be covered. Some even help out with in-patient hospitalization or at-home therapy services!

Smoking Cessation Assistance

Smoking is incredibly damaging to your health, so it makes perfect sense why insurance providers want to help you quit for good! As part of their preventative services, most insurance plans provide coverage to help you quit smoking. These services include counseling sessions and FDA-approved medications by prescription.

Obesity Treatments

A national crisis, obesity is a leading cause of health-related problems and death in the US. States across the country have stepped up their effort to combat this deadly epidemic, and so too have most insurance providers. Your health insurance could have coverage for preventative screenings, assessments, and even obesity treatments such as diet counseling, weight management services, or even medical procedures.

These are just some of the surprising benefits hidden within health insurance. If you’re a resident of Lakewood, CO searching for the right insurance, let our agents at Colling Insurance Services Inc. help you discover the right policy for your personal needs!