Sentences with phrase «deduct key man»
When filing taxes, every business looks for as many deductions as possible, and looking to deduct your key man life insurance premiums is no exception.
https://www.keypersoninsurance.com/
Your company can only deduct key man insurance premiums if they're considered to be part of the employee's taxable income, in which case the employee is typically the beneficiary.
Your company can only deduct key man insurance premiums if they're considered to be part of the employee's taxable income, in which case the employee is typically the beneficiary.
Not exact matches
However, the good news for business owners is that premiums on key man insurance paid by an employer may be deducted by the company if the premiums are charged to the insured as taxable income.