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Article: Rare IRS Insurance Code Aids Company, Employees.
- Article from:
- Arkansas Business
- Article date:
- March 19, 2001
- Author:
CopyrightCOPYRIGHT 2001 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LITTLE-KNOWN INTERNAL Revenue Code Section 419 gives corporations a discriminatory employee life insurance, benefit while significantly lowering business income taxes.
Excluding sole proprietorships, businesses are eligible for the welfare benefit, trust if a minimum of two people -- both of whom must be employed by the company -- enroll in the plan. At least one participant must be a non-owner, and major share holders are also eligible.
In short, it's a great way to make Uncle Sam pay for employee life insurance premiums while investing tax-deferred money.
John Ervin, owner of Ervin & Co. CPAs in Fayetteville, said the best aspect of the plan ...
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Article: Ervin, Hall Match Stroke for Stroke; Improbably, U.S. Duo ...
The Washington Post;
September 23, 2000 ;
700+ words
... ... and emotion, Gary Hall Jr. and Anthony Ervin emerged from the pool tonight with their ... individual gold medals here, Hall and Ervin provided 22 seconds of gripping entertainment ... through a lot of hardships." Added Ervin: "It couldn't have happened better ...
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