P.S. George Will’s column also notes that Ducey is not a fan of Republicans who want to surrender to bigger government. During a September speech at the Ronald Reagan Presidential Library in California, Ducey deplored the fact that “a dangerous strain of big-government activism has taken ho...
The Bahamas “may devastate the economy” if it surrenders too easily to demands from high-tax European nations for a corporate income tax, a former finance minister warned yesterday. …OECD and European Union (EU) initiatives…calling for all nations to impose some form of “minimum level of...
The article focuses on how to help one's clients avoid the whole life tax trap in the U.S. It states that an alternative to escape a tax trap is to do a partial surrender and use the proceeds to...
policy when a new policy is purchased. If there is any taxable gain built up inside the policy, then the surrender is a taxable event. By effecting a “ten thirty-five exchange” the old policy’s cash values (and cost basis) are transferred to the new life insurance policy - tax free...
variable life insurance product is its flexibility regarding premium remittance and cash value accumulation. Premiums are not fixed, as with traditional whole life insurance or term insurance policies. Within limits, policyholders may adjust their premium payments based on their needs and investment ...
1) Invest in UK based funds funds with UK reporting status – should focus on buying income units here to make CGT calculations easier. –I’m interested in Vanguard Lifestrategy funds, so would love to know if there is any reason that you don’t think that’s a good route to go down...
Observations on the CCA’s Analysis of Insurance The CCA should be taken for what it’s worth, which is a one-sided expression of the IRS’s views as to the proper tax characterization of particular transactions. Nevertheless, the CCA is important in that it reflects the IRS’s current thi...
The life insurance should be taken on the taxpayer’s life and not on his/her spouse’s. The allowance granted for insuring the life of the spouse is still valid for policies effected before 1 January 2003 The annual premiums are restricted to 7% of the insured amount In the case of ...
Life insurance premiums (Note 1) EPF contributions (Note 1) Private Retirement Scheme contributions and Deferred annuity scheme premium (until YA 2021, extended to YA 2025) Insurance premiums for education or medical benefits Expenses on medical treatment, special needs or carer expenses for parents ...
An attractive feature of the variable life insurance product is its flexibility regarding premium remittance and cash value accumulation. Premiums are not fixed, as with traditional whole life insurance or term insurance policies. Within limits, policyholders may adjust their premium payments based on t...