it depends on the type of insurance.. workers compensation insurance, health, dental, or vision are all payroll expense.. building insurance is an operating expense..
Payment of insurance premium should always be treated as general expense,to be shown in the debit side of the Profit & Loss A/c of a Company,whether it is payroll expense for its employees. While preparing individual Balance Sheet, payment of insurance premium where life, medical,home owner or else, should be shown as payment/expenditure and to claim benefits under Income Tax Act.
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