W. Edward Newton Jr., CPA, CFP (R) | 13850 Ballantyne Corporate Place, Suite 500 | Charlotte, NC 28277 | 704-552-8689

 

            Life Insurance Tax Features

Life insurance has many valuable tax features (click here for the full article). Thus, people who have invested in quality contracts may not want to surrender them without careful consideration.

For example, one person nearing retirement had two policies. One was quite old and had a substantial gain. The other was newer coverage purchased to cover some indebtedness for a business venture.

He was about to surrender them both. However, careful analysis proved that if merged, the gain would be absorbed by the insurance cost of the newer policy, and he might save a substantial amount of income tax.

If you feel there is any reason that your existing policies should be reviewed, for tax implications please give me a call at (704) 552-8689.

Thanks, Ed

 

 


 

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As always you can call our offices if you have any questions about these or any other accounting, tax, financial planning or Quickbooks related issues, at 704-552-8689. 

 

Regards, W. Edward Newton Jr., CPA, CFP (R)

Certified Public Accountant

 

 

 

 

W. Edward Newton Jr., CPA, CFP (R) | Certified Public Accountant

13850 Ballantyne Corporate Place, Suite 500 Charlotte, North Carolina 28277 Phone: (704) 552-8689 | Email: ednewton@ednewtoncpa.com