Can anyone explain how a client gets a business owner gets a tax deductions for life insurance premiums? Not as a business expense, but a deduction against their income?
2007-11-30
13:01:44
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6 answers
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asked by
ct_talent_scout
1
in
Business & Finance
➔ Insurance
***OK** I think LB06029 is on the right track, but to clarify..... I heard that a business owner can put pre-tax money into a life insurance policy and get a deduction against their income from the business as a result. Meaning, A business owner has an extra 100K from the business, so they put it into a life insurance policy that acts like a pension plan.
2007-11-30
13:20:56 ·
update #1