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Life insurance premiums paid for the officer of S corporation

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    #1

    Life insurance premiums paid for the officer of S corporation

    Life insurance premium is paid by the S corporation but the beneficiary is the owner of the S Corporation and not the corporation. Is the premium deductible by the S corporation?
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    #2
    Originally posted by Florida_EA View Post
    Life insurance premium is paid by the S corporation but the beneficiary is the owner of the S Corporation and not the corporation. Is the premium deductible by the S corporation?
    If memory serves me right the beneficiary must be the corporation in a buy sell agreement for the premiums to be tax deductible.
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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      #3
      See this post

      life insurance 2% or more shareholder - TMI Message Board
      http://forum.thetaxbook.com/showthread.php?16088-life-insurance-2-or-more-shareholder&p=110582#post110582
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