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    Life insurance paid from a corporation

    An insurance agent asked about life insurance bought and paid by the a corporation, obviously it will cover the owner or owners but the question is how will the benefits be treated. As income to the business or does go the beneficiaries?

    Thank you

    #2
    Originally posted by americantax View Post
    An insurance agent asked about life insurance bought and paid by the a corporation, obviously it will cover the owner or owners but the question is how will the benefits be treated. As income to the business or does go the beneficiaries?

    Thank you
    See TTB covering "Key person life insurance and Employer-owned life insurance contracts" starting at page 31-9 and "Employer-Provided Medical Coverage" page 29-3. It should provide more in depth information.
    Always cite your source for support to defend your opinion

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