February 2016 / 5 posts found
Keyman Insurance: IRS Safe Harbors for Tax-Free Income
Keyman Insurance: IRS Safe Harbors for Tax-Free Income. Death benefits are tax-free if 1 of the Safe Harbors are in place. Otherwise taxable in excess of premiums paid.Keyman Insurance: Annual IRS Reporting Requirements
Keyman Insurance: Annual IRS Reporting Requirements: Form 8925 must be included with the employer’s annual income tax return.Keyman Insurance: IRS Notice & Consent Requirements
Keyman Insurance: IRS Notice & Consent Requirements must be followed prior to issuance of policy to get tax-free death benefits. More conditions at death.How much Key person insurance do you need?
What’s the impact on the sudden, unexpected loss on the Company’s ability to survive? Sudden drop in profits and revenues The loss of a top salesperson affects revenues and profits. Will…Are Keyman Insurance Death Benefits Tax-Free?
Key person life insurance death benefits are tax-free if certain steps are taken prior to issuance of the policy & certain conditions have been met at death. Otherwise, the death benefits in excess…