Life insurance Premium

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • TAX
    Senior Member
    • Dec 2005
    • 330
    #1

    Life insurance Premium

    Are Life insu premiums paid by S corp for two share holders (more than 2%) deductible?
    Corp is not a beneficiary. These premiums are not on W-2.

    I am just treating them as distribution as they were paid from business bank account.

    Does this sound right?

    Thank you.
    Tags: None
    • JoshinNC
      Senior Member
      • Feb 2006
      • 1180
      #2
      what is the purpose of the life insurance

      and who owns the policy?

        Comment

        • veritas
          Senior Member
          • Dec 2005
          • 3290
          #3
          life insurance premiums (other than group life)

          are not deductible by any business, corporation or not.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...