Can Bookkeepers Deduct E&O Insurance Specific to Financial Services?

Yes — Errors & Omissions insurance carried specifically to cover financial services work is a fully deductible business expense for independent bookkeepers, since it exists to protect you against claims tied directly to the paid work you perform. Bookkeeping carries real liability exposure — a data entry error, a missed reconciliation, or a misclassified expense could lead a client to claim financial harm. E&O insurance designed for financial services professionals covers exactly this kind of...