Whole Life Insurance Tax Disasters
People say life insurance is complicated and it’s lack of transparency hampers its popularity. Whole Life, like the polices in your articles , are the mother-ship of complexity , secrecy, and confusion. Many agents use “simplification” and “demystification” of financial services as their taglines, which is a good thing. But oversimplifying is an abuse of customer trust. Putting whole life in the basket of at-work benefits is an opportunity for inappropriate oversimplification. The responsibility to protect employees from those types of programs lies with the employer.
Dental Management Company Did Not Do Any Managing
A lot of people believe that you can freely shift income between related entities as long as it ties out and you have not violated the “big balance sheet in the sky”. In reality, that kind of activity runs the risk of having you be whipsawed, because income is income, but deductions must be ordinary and necessary.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.