2020 Tax Facts on Insurance & Employee Benefits (Volumes 1 & 2)

By William H. Byrnes and Robert Bloink

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 Q&As, 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 issuesPractical advice for any professional, including financial planners, in-house HR professionals, insurance producers, and third-party advisersDetailed explanations of the various types of insurance products and employee benefits that are most commonly used by individuals and businessesPractice points that give concise advice on how to handle real-world tax issuesTax information to help avoid problems before they become costly mistakes, as well as correct problems when they do occur

New in the 2020 Edition:

Answers to questions covering the new Individual Coverage HRAs (ICHRAs)New rules on reporting requirements for insurance policy sales under the 2017 Tax ActUpdated coverage of deductibility premium payments paid pursuant to divorce and separation agreementsExpanded coverage of trust-owned life insurance policiesUpdated rules for determining compensation for nondiscrimination testingNew content on documentation requirements for pre- and post-mortem distributions from qualified plansThe effect of HRAs and QSEHRAsUpdated deductible values, cost-sharing limits, wellness program information, and Federal Poverty GuidelinesChanges in the employer mandate to offer coverage and the penalty for not meeting affordability requirementsThe effect of the individual mandate repealA 2020 update on related taxes, such as tanning bed tax, the additional Medicare tax, medical device tax, and Medicare tax on investment income of 3.8%, and the continuing delay in implementation of the Cadillac TaxUpdated inflation number projections

Topics Covered:

Annuities and life insurance productsERISA regulations for employee benefit plansHealth insurance, including Healthcare ReformLong-term care insuranceDisclosure and recordkeeping requirementsQualified and nonqualified compensation plansDefined contribution and defined benefit deferred compensation plansFunded and unfunded plansPBGC requirementsEstate and gift tax planning and consequencesTraditional IRAs and Roth IRAsAnd More See the "Table of Contents" section for a full list of topics

• Format: Paperback
• Language: English
• ISBN: 1949506800
• ISBN13: 9781949506808
• Release Date: December 2019
• Publisher: The National Underwriter Company
• Length: 1992 Pages
• Weight: 2.30 lbs.
• Dimensions: 9.3" x 3.3" x 7.0"