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Employer Life Insurance Billings MT

Local resource for employer life insurance in Billings. Includes detailed information on local businesses that provide access to employer-sponsored insurance, employer liability insurance, small employer health insurance, and information on insurance requirements for employers, as well as advice and content on group health insurance.

A Treasured Friend Pet Crematory & Monument Co
(406) 252-3320
313 N 34th St
Billings, MT
Allegiance Benefit Plan Management
(406) 252-3484
490 N 31st St, Ste 100
Billings, MT
David Blackman Insurance Agency Inc
(406) 248-5547
1132 Central Ave
Billings, MT
Rocky Mountain Insurance Brokers Inc
(406) 655-1711
2619 Saint Johns, Suite B
Billings, MT
Don Lillis State Farm Insurance
(406) 252-1915
1948 Grand Ave
Billings, MT
Groshelle Investments & Life Ins
(406) 252-7188
1004 Division St.
Billings, MT
MetLife Joe Lowther
(406) 672-5593
2501 4th Ave N
Billings, MT
Affiliated Medical Agency
(406) 252-3529
1324 O Malley Dr
Billings, MT
Employee Benefit Management Services Inc
(406) 245-3575
2075 Overland Ave
Billings, MT
Tronson Agency
(406) 652-4422
1460 17th Street West
Billings, MT

Business Tax Deduction - Life Insurance

Business Tax Deduction - Life Insurance

Life Insurance is a fairly common and accepted part of the risk management of any good personal or business financial plan. It is not, however, a valid business tax deduction.

In any personal or business financial plan, risk management plays an important part. Insurance is the primary mover in most risk management plans and the premiums paid for insurance on your inventory, physical buildings, and all types of liability are valid business tax deductions that can reduce your business tax liability. Life insurance is the one type of policy that is excluded from this. The premiums paid for Life Insurance policies are not tax deductible.

Other types of insurance could also include unemployment insurance and workman's compensation insurance. These common forms of business insurance are closely regulated and any funds spent on them are obvious tax deductions. The fact that most forms of insurance premiums are almost automatic business tax deductions often fools small business owners into thinking that their life insurance premiums are deductions also.

There is a good argument for this to be so. Small business owners especially are usually closely associated with the success or failure of their own business. In other words, if they die that usually spells the end of the business. This is the purpose, of course, of the small business owner wisely insuring his life. It is his hope that in case of his death not only will his dependents be protected, but the business will be able to survive his loss. Although this seems to indicate that life insurance is almost a business necessity for the small business owner, the tax codes and rulings of the IRS are what determines deductions.

There are some cases where life insurance premiums might be considered a business tax deduction. This would be when the small business purchases life insurance on some of their key employees. The risk management idea here is that the insurance is s...

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Self Employed Health Insurance Deduction

Self Employed Health Insurance Deduction and Cobra

There is no disputing that health insurance can be a night mare for the self-employed. This raises the issue of the self employed health insurance deduction and Cobra.

Self Employed Health Insurance Deduction and Cobra

Health insurance is one of the primary concerns for all self-employed business owners. When working as an employee for a company, health and dental insurances are usually provided to some extent by that company. However, many home business owners become concerned when leaving those companies to form their own businesses due to the loss of this health insurance. And if that wasn't a major concern in itself, even employees for major businesses are losing health insurance. Numbers of uninsured workers have risen due to the expensive costs of health insurance.

Despite this, there is good news for those who leave a company to run their own. An act known as the Consolidated Omnibus Budget Reconciliation Act, or COBRA, was passed that allows departing workers to buy health insurance through their employer's group plan. What this means is that those who are leaving a company can still buy insurance from their former employer. The benefits of this can be extensive for those looking to form their own companies but who are dismayed due to the potential loss of health insurance.

However, don't think that COBRA will be cheap. Many who go through COBRA to obtain health insurance are extremely surprised with the rat...

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