Unless u got lyfe insurance 91

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Many tax professionals also CPAs who desire to expand their business proposal life insurance as a profitable side benefit. Through offering life insurance, the accountant aids his clients to receive advantage of certain IRS provisions that he has special knowledge about from tax preparations. These provisions include, for example, the tax rebates available to businesses for purchasing group life insurance. Accountants require to know how to promote this side enterprise to make it some accomplishment.

Difficulty: Moderate

Directions

1 Become licensed within the state where you want to complete business. This requires studying with the exam in your express, paying a fee to sit down for the examination, submitting your fingerprints and cash any fee to store a life insurance license. The license allows you to sell life insurance to your existing customers.

2 Review your clients' 1 website4 website tax returns or company returns. Look to areas wherever life insurance may possibly help it receive exclusive added tax rebate. For example, a companie with several key employees and some retirement strategy that is remains funded to the maximum degree, according to IRS rules, could benefit from whole life insurance. By using this executive bonus strategy, the corporation may boost its benefits to executives and receive another tax deduction.

References

"Life & Health Insurance, License Exam Manual, 6th Edition"; Dearborn Financial; 2 web site website4 "Practicing Monetary Planning with Professionals (Practitioners' Edition), 1 websiteth Edition"; Sid Mittra, Anandi P. Sahu, Robert Some Crane; 2 internet site website7

Resources

NAIC Web Map

tax types image via Chad McDermott from Fotolia.com ;