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Life Insurance Premiums NOT Tax Deductible

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Manage episode 311361928 series 3113382
Kandungan disediakan oleh Mac Tax®. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Mac Tax® atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
Any personal or business life insurance premiums paid to benefit an officer, employee or yourself are NOT tax deductible. If paid through a business these premium expenses must be reversed out each year as a permanent tax adjustment. All life insurance plans owned by an employer must be reported on form 8925 each year. Consequently life insurance payouts are tax free to the beneficiary, so at least it’s fair in that sense.
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84 episod

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iconKongsi
 
Manage episode 311361928 series 3113382
Kandungan disediakan oleh Mac Tax®. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Mac Tax® atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
Any personal or business life insurance premiums paid to benefit an officer, employee or yourself are NOT tax deductible. If paid through a business these premium expenses must be reversed out each year as a permanent tax adjustment. All life insurance plans owned by an employer must be reported on form 8925 each year. Consequently life insurance payouts are tax free to the beneficiary, so at least it’s fair in that sense.
  continue reading

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