Tax strategies that turn life insurance lemons into lemonade iStock/Thinkstock

Tax strategies that turn life insurance lemons into lemonade

This article shows you the “how,” whether you are rich or just want to mimic the insurance strategies they use $1 million of tax-free life insurance equals over $3 million in earnings Following are five example strategies that come up often in practice or create the most tax-free dollars It should be noted that every detail, nuance and possible tax trap of the above strategies cannot be accounted for in this article Warning: Only work with experts in this area

Did you ever wonder why the rich buy so much life insurance? The answer is in the numbers: The crazy tax law allows you to multiply a small portion of your wealth into millions of tax-free dollars. How, you ask?

This article shows you the “how,” whether you are rich or just want to mimic the insurance strategies they use. Let's start by answering this question: How much must you earn to leave your heirs (say your kids) $1 million? Would you believe $3,030,030?

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TAGS: Taxes
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