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>> DISABILITY Latest News

FEB 06, 2013 - Forbes

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Think twice about how you define income -- your taxes depend on it

Imagine you’ve purchased a group Long Term Disability Income (LTD) plan for you and your employees. Who becomes disabled? You do. The plan pays a standard percentage of income, however when you file the claim you are shocked to discover the monthly benefit you’ll receive is much less than what you expected (and you don’t need a shock, considering you’re disabled). The reason for the surprise reduction in income is that your company is an S Corporation (S Corp), and this particular insurance company measures income by your W-2 wages, ignoring your K-1 income. Had you asked for income to be ... Read More

Tags: Think twice about how you define income -- your taxes depend on it,  Disability Latest News