Life Insurance & Irrevocable Trusts Beneficiaries usually pay no income tax on the death benefit payments. You must consider estate taxes because if you own a policy on your own life, the death benefits are included in your estate for federal estate – tax purposes unless the money goes to your surviving spouse (and he […]
insurance
Disability Insurance – Secure Tax Free Benefits
Disability Insurance – Secure Tax Free Benefits Long term disability benefit payments are typically tax free when you, not your employer, pay the premiums. Even if you pay with after-tax dollars via payroll withholding from your own salary, you are considered to pay the premiums with your own money. The same treatment applies if you […]
Fringe Benefits – Types Of Benefits For Employees
Fringe Benefits – Types Of Benefits For Employees In today’s tight job market, a good fringe benefit package is often essential. Certain perks can be deducted by your company as business expenses but don’t have to be included in employees’ incomes. Qualified transportation fringe benefits belong in this category. Here’s a list of some others: […]