Tag Archive | "insurance proceeds"

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Overlooked Tax Deductions: Gambling Losses

Overlooked Tax Deductions: Gambling Losses   How Landlords Can Write Off Rental Property Losses There are strict limitations on losses from investments in tax shelter deals, such as limited partnerships. Generally, tax shelter losses can be offset only against income from similar investments. Shelter losses can't be used to wipe out taxes on … Read […]

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How to Become a Life Insurance Broker : Becoming an Insurance Broker

How to Become a Life Insurance Broker : Becoming an Insurance Broker   Morning Briefing: Our business is at risk say life insurance brokers Life insurance brokers in Australia are calling for plans to reform the industry to be scrapped fearing it may end their business. The federal government is aiming to ban upfront fees […]

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Passive Activity Loss & At-Risk Limits

Passive Activity Loss & At-Risk Limits   Related Casualty Insurance Proceeds Taxable Income Information…

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“Casualty & Theft Loss” from The Tax Lady Sings

“Casualty & Theft Loss” from The Tax Lady Sings   The Tax Man Cometh For Insurance Cos. In Latest Budget … reinsurance of property and casualty risks to the extent that the affiliated foreign reinsurer (or its parent company) is not subject to U.S. federal income tax with respect to the premiums received; and (2) […]

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7 Ways Life Insurance Can Help a Family Business

7 Ways Life Insurance Can Help a Family Business If anyone depends on your income, then you need life insurance, whether you work for someone else or run your own business. If you die prematurely, your family can use the life insurance proceeds for everything from day-to-day household expenses to … Read more on NerdWallet (blog) […]

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Death and Taxes: What Better Legacy Than Tax-Free Wealth?

Death and Taxes: What Better Legacy Than Tax-Free Wealth? Life insurance is a tax efficient estate planning strategy. So long as the insured does not retain any incidents of ownership over the policy, life insurance proceeds are not taxable as income to the beneficiary or includible in a decedent's estate … Read more on Bloomberg […]

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