__._,_.___From: Debbie WilsonSent: Thursday, September 25, 2008 1:43 PMSubject: RE: [taxchat] Life Insurance
This is not a group term policy. It's whole life and he is the only one that is covered.
From: taxchat@yahoogroups
.com [mailto:taxchat@yahoogroups. com] On Behalf Of Debbie Breedlove
Sent: Thursday, September 25, 2008 1:40 PM
To: taxchat@yahoogroups.com
Subject: Re: [taxchat] Life Insurance
Yes. The amount over $50,000 would go on his W-2.
I know we just discussed this, but I have a situation where the C corporation is paying the premiums for the life insurance on one of the shareholders and the corporation is not the beneficiary. Does this still have to be compensation?
Sincerely,
Debbie Wilson EA
Preferred Accounting
420 E Beloit St.
Darien, WI 53114
262-724-3635 Tel
262-724-5645 Fax
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