HelpingPeople
Expert
- 48
I am looking at offering DI for Individual and Group. (Currently do ind. health and life). Wanted to get a feeling for the tax considerations for DI, as I know they are different when comparing to life insurance.
1) Group DI as a payroll deduction before taxes and if a claim is made benefits NOT TAXED??
2) Key Man DI... Written off as business expense.... Claim payment TAXED or NOT TAXED.?? Please comment.
3) Individual purchase before tax..... if claim is made benefits NOT TAXED??
Thank for comments on clarity for these concepts.
1) Group DI as a payroll deduction before taxes and if a claim is made benefits NOT TAXED??
2) Key Man DI... Written off as business expense.... Claim payment TAXED or NOT TAXED.?? Please comment.
3) Individual purchase before tax..... if claim is made benefits NOT TAXED??
Thank for comments on clarity for these concepts.