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363: OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions

Main Street Business

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Life Insurance Is Not Right Off

The i r s in congress gave you a lump of coal on that one y, big lump of col on. I weso, no business expense for bo courty says, wer were hopping to day. When you get life insurance, it's tax free. So start trying to tax the premiums, you're going to jack up the recipients tax free receipt of that money. It's just not allowed in an s corporation or an llc anyway. The owners cannot write off their life insurance premiums. Always get a second opinion, and not from someone that's selling you insurance. Get a second opinionis that fair to say?

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