01/30/2020 by financialwealthsolutions 0 Comments
Make Life Insurance Tax Deductible
Can You Make Life Insurance Tax Deductible?
Purchasing life insurance within a qualified plan may offer business owners a practical and tax-efficient way to fund needed personal life insurance protection. Why a qualified plan?
* Tax-deductible premiums
* Pre-retirement death benefit
* Death proceeds in excess of cash value received potentially tax-free
* Increased diversification among plan assets
* Potential for added creditor protection