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| C Corporation |
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According to our interpretation of the tax code, when a C corporation
purchases a tax qualified LTC policy, it is treated similar to health
insurance premiums. The premiums paid by the C Corporation for their
employees or an employees spouse or dependents, is fully deductible as a
business expense. Furthermore, even though the premiums are deductible,
it appears that this is not subject to any nondiscrimination rules.
- The premiums are not limited to the eligible premiums described in the previous 2 examples.
- The premiums paid by the corporation are not included in the employee's gross income.
- The benefits, when received, are tax-free.
Note: The previous interpretation is for general informational purposes only. This
website does not intend to present itself as a tax professional, but
rather to offer our opinion of the tax code as it relates to tax
qualified ltc insurance. Visitors are encouraged to consult their tax
professional as it relates to their personal situation.
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