Tax Question: Can I Deduct the Premiums on the Life Insurance Policy I Just Took Out on My Cheatin’ Husband?

Attention-grabbing headline.  Following content not the exact situation I hinted at.So the question is in which situation a company can pay life insurance premiums on behalf of an owner and deduct those premiums for tax purposes. In this case, the owner of a single member LLC has two policies: $7,500 annual premium whole life policy $15,000 …

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