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In the extreme would be a life insurance policy that had no life insurance component, and was entirely cash value. If it received favorable tax treatment as a life insurance policy it would be the perfect tax shelter, pure investment returns, and no insurance cost. In fact, when variable universal life policies first became available in 1986 ...
In an attempt to achieve the "best of both worlds" (protection in the case of early death, and additional tax-protected returns in the case of long life), life insurance policies were created containing investment accounts having preferential tax treatment. This is most often done with a Variable universal life policy. See that article for some ...
May provide asset protection by removing plan assets from the reach of company creditors; Provides for minimal [clarification needed] rank and file employee cost; Insurance cash values may provide tax-free income as long as the policy is kept in force and withdrawals do not exceed the cost basis; A section 79 plan may be used for the following ...
If an annuity is used in a qualified pension plan or an IRA funding vehicle, then 100% of the annuity payment is taxable as current income upon distribution (because the taxpayer has no tax basis in any of the money in the annuity). This is the same tax treatment of direct participation in a qualified pension plan (such as a 401K), again, due ...
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Many parents assume ownership of a 529 college savings plan for their children, which increases their net worth until it's time to use the money for school. 529 plans grow tax-free and ...
The corporate tax rate as well as the tax amortization period are defined by country-specific tax legislations. The tax amortization period might be different from the useful life used in accounting. For example, while trademarks can have an indefinite useful life for accounting purposes, the tax legislation of the United States establishes a ...
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