税务处理第 714 / 716 题
Premiums a business pays for key person life insurance are:
a.Fully tax-deductible to the business as an ordinary and necessary operating expense in every single year
b.Always taxable income to the employee
c.Deductible by the insured employee
d.Never tax-deductible, but the death benefit is generally received income-tax-free by the business
解析
Key person premiums are not deductible because the business is the beneficiary, but the death benefit it later receives is generally income-tax-free. The premiums are not the employee's income or deduction.
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同考点相关题目
- Premiums paid for personal life insurance are:
- The cash value inside a permanent life insurance policy grows:
- Life insurance proceeds may be pulled into the insured's taxable estate if, at death, the insured held:
- Required minimum distributions (RMDs) generally force the owner of a traditional qualified plan to begin taking taxable distributions:
- In an executive bonus (Section 162) plan, the employer:
- A split-dollar life insurance arrangement is:
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审核人 John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — 核实)