Many agents sell indexed universal life insurance dishonestly. IUL are permanent policies which are often sold with exacerbated projection and inflated promises. IUL products have a lot more risk than whole life, and oftentimes that risk is not explained to the prospective insurance buyer. The product is hard to understand and the sales illustrations are […]
Category: Insurance
IRS Secrets You Should Know
Find out how to protect yourself and your business from pricey fines and audits. IRS Secrets You Should Know by Lance Wallach
Abusive Insurance Plans Get Red Flag
Tax Briefs – The IRS in Notice 2007-83 identified as listed transactions certain trust arrangements involving cash value life insurance policies. Revenue Ruling 2007-65, issued simultaneously, addressed situations where the tax deduction has been disallowed, in part or in whole, for premiums paid on such cash-value life insurance policies. Also simultaneously issued was Notice 2007-84, […]
DOLAN MEDIA NEWSWIRES
Dolan Media Newswires 01/22/2010 Small Business Retirement Plans Fuel Litigation Small businesses facing audits and potentially huge tax penalties over certain types of retirement plans are filing lawsuits against those who marketed, designed and sold the plans. The 412(i) and 419(e) plans were marketed in the past several years as a way for small business […]