Publisher's Synopsis
Insurance and employee benefits each carry their own set of tax issues, and advisers cannot possibly make the thorough and complete assessments that clients depend on without understanding this ever-changing area.
Tax Facts on Insurance & Employee Benefits is your source for tax information as it relates to these two critical business and financial planning areas, showing how tax law and regulations are pertinent to insurance, employee benefit, and financial planning practices. With thousands of easy-to-use questions & answers, Tax Facts helps advisers understand the tax implications of the recommendations that they make for their clients.
This two-volume edition features:
- Thousands of easy-to-read Q&As that comprehensively cover all aspects of insurance and employee benefits tax issues
- Practical advice for any professional, including financial planners, in-house HR professionals, insurance producers, and third-party advisers
- Detailed explanations of the various types of insurance products and employee benefits that are most commonly used by individuals and businesses
- Practice points that give concise advice on how to handle real-world tax issues
- Tax information to help avoid problems before they become costly mistakes, as well as correct problems when they do occur
New in the 2021 Edition:
- Extensive coverage of the effect of the SECURE Act on qualified plans, including new RMD rules, new rules on inherited IRAs, and contributions beyond age 72
- Complete updates on the legal and regulatory changes related to the CARES Act
- Updated paid leave requirements under the Families First Coronavirus Response Act
- Updated withholding and employment tax requirements
- Complete set of updated inflation number adjustments
- Updated inflation number projections
Topics Covered:
- The effect of the SECURE Act
- Legal and regulatory changes related to the CARES Act
- Legal and regulatory changes related to the Families First Coronavirus Response Acts
- Annuities and life insurance products
- ERISA regulations for employee benefit plans
- Health insurance, including Healthcare Reform
- Long-term care insurance
- Disclosure and recordkeeping requirements
- Qualified and nonqualified compensation plans
- Defined contribution and defined benefit deferred compensation plans
- Funded and unfunded plans
- PBGC requirements
- Estate and gift tax planning and consequences
- And More! See the "Table of Contents" section for a full list of topics
