Greater Reading Chamber Commerce Quarterly Fall 2017 - 39

GreaterReadingChamber.org

neither are they taxable as income to the employee. Employees,
however, are responsible for loan repayment and interest on
the loans. Under these plans, employees generally have full
access to policy cash values for premium loan repayment. (Note:
Withdrawals and policy loans will reduce the amount of the death
benefit.)
PASS PLUS - A PASS Plus arrangement involves the creation
of a partnership between you, your co-owners (if any), and your
business for the purpose of owning life insurance on you and
the other partners. Basically, you (and any co-owners) purchase
life insurance policies and transfer them to the partnership; your
business transfers cash to the partnership, which is used to pay
the policy premiums. At the death of an owner, the partnership
is dissolved; the business recovers its costs; and the balance of the
proceeds is paid to the deceased owner's estate, income tax free.
If an owner is disabled or retires, the partnership is dissolved;
the business is repaid its cash contributions; and the policy is
transferred to the disabled/retired owner who can, in turn, access
its cash values via income tax free loans. (Note: policy loans will
reduce the amount of the death benefit.)
SECTION 79 PLANS - If your business is set up as a "C"
corporation, the IRS allows you to provide your employees
with "group term life insurance" using individual cash value
policies. Premiums paid by your company are tax deductible and
participating employees will be taxed on the value of any insurance
protection in excess of $50,000 as well as all "permanent benefits"
provided by the plan. A large portion of the premiums will be
considered income taxable to the participants, but because they
own their own policies, they retain access to cash values via income
tax free loans, and they can name their own beneficiary for the
policy proceeds. (Note: policy loans will reduce the amount of the
death benefit.)

Corporate Events
at GoggleWorks

meetings / symposiums / work sessions

cocktail receptions / special events

SECTION 419 PLANS - The potential benefits of a "419
Plan" are many, and include life insurance, disability protection,
severance pay, medical benefits, long term care, or illness and
accident benefits. Premiums paid by your company are income
tax deductible and are not considered taxable as income to the
employees. Death benefits are paid income tax free and, in certain
cases ("multi employer plans"), there are no stated limits on
contributions. (Note: Because of the significant tax advantages and
benefits of these plans, they are receiving increased IRS scrutiny.)
As a financial strategy, life insurance is often overlooked and
sometimes even avoided. But in the right circumstances, it can
be a tax efficient and affordable way to address the challenges you
face in building and maintaining a successful business or practice.
Whether it's protecting your family, attracting and rewarding key
employees, assuring business succession, or maintaining your
business's good credit rating, today's life insurance contracts are
worth a second look.
This information should not be construed as tax advice applicable to each
individual. Please consult a qualified tax advisor regarding your individual
circumstances. Content prepared by: © 2016 The Penn Mutual Life Insurance
Company, Philadelphia, PA 19172, 1582850RM-Sep18.

live demonstrations / private workshops

Create a custom,
memorable experience,
whether for business or fun
Learn more at
goggleworks.org/event-rentals
GoggleWorks Center for the Arts
201 Washington St., Reading, PA 19601
  39


http://www.GreaterReadingChamber.org http://www.goggleworks.org/event-rentals

Table of Contents for the Digital Edition of Greater Reading Chamber Commerce Quarterly Fall 2017

Greater Reading Chamber Commerce Quarterly Fall 2017 - 1
Greater Reading Chamber Commerce Quarterly Fall 2017 - 2
Greater Reading Chamber Commerce Quarterly Fall 2017 - 3
Greater Reading Chamber Commerce Quarterly Fall 2017 - 4
Greater Reading Chamber Commerce Quarterly Fall 2017 - 5
Greater Reading Chamber Commerce Quarterly Fall 2017 - 6
Greater Reading Chamber Commerce Quarterly Fall 2017 - 7
Greater Reading Chamber Commerce Quarterly Fall 2017 - 8
Greater Reading Chamber Commerce Quarterly Fall 2017 - 9
Greater Reading Chamber Commerce Quarterly Fall 2017 - 10
Greater Reading Chamber Commerce Quarterly Fall 2017 - 11
Greater Reading Chamber Commerce Quarterly Fall 2017 - 12
Greater Reading Chamber Commerce Quarterly Fall 2017 - 13
Greater Reading Chamber Commerce Quarterly Fall 2017 - 14
Greater Reading Chamber Commerce Quarterly Fall 2017 - 15
Greater Reading Chamber Commerce Quarterly Fall 2017 - 16
Greater Reading Chamber Commerce Quarterly Fall 2017 - 17
Greater Reading Chamber Commerce Quarterly Fall 2017 - 18
Greater Reading Chamber Commerce Quarterly Fall 2017 - 19
Greater Reading Chamber Commerce Quarterly Fall 2017 - 20
Greater Reading Chamber Commerce Quarterly Fall 2017 - 21
Greater Reading Chamber Commerce Quarterly Fall 2017 - 22
Greater Reading Chamber Commerce Quarterly Fall 2017 - 23
Greater Reading Chamber Commerce Quarterly Fall 2017 - 24
Greater Reading Chamber Commerce Quarterly Fall 2017 - 25
Greater Reading Chamber Commerce Quarterly Fall 2017 - 26
Greater Reading Chamber Commerce Quarterly Fall 2017 - 27
Greater Reading Chamber Commerce Quarterly Fall 2017 - 28
Greater Reading Chamber Commerce Quarterly Fall 2017 - 29
Greater Reading Chamber Commerce Quarterly Fall 2017 - 30
Greater Reading Chamber Commerce Quarterly Fall 2017 - 31
Greater Reading Chamber Commerce Quarterly Fall 2017 - 32
Greater Reading Chamber Commerce Quarterly Fall 2017 - 33
Greater Reading Chamber Commerce Quarterly Fall 2017 - 34
Greater Reading Chamber Commerce Quarterly Fall 2017 - 35
Greater Reading Chamber Commerce Quarterly Fall 2017 - 36
Greater Reading Chamber Commerce Quarterly Fall 2017 - 37
Greater Reading Chamber Commerce Quarterly Fall 2017 - 38
Greater Reading Chamber Commerce Quarterly Fall 2017 - 39
Greater Reading Chamber Commerce Quarterly Fall 2017 - 40
Greater Reading Chamber Commerce Quarterly Fall 2017 - 41
Greater Reading Chamber Commerce Quarterly Fall 2017 - 42
Greater Reading Chamber Commerce Quarterly Fall 2017 - 43
Greater Reading Chamber Commerce Quarterly Fall 2017 - 44
Greater Reading Chamber Commerce Quarterly Fall 2017 - 45
Greater Reading Chamber Commerce Quarterly Fall 2017 - 46
Greater Reading Chamber Commerce Quarterly Fall 2017 - 47
Greater Reading Chamber Commerce Quarterly Fall 2017 - 48
Greater Reading Chamber Commerce Quarterly Fall 2017 - 49
Greater Reading Chamber Commerce Quarterly Fall 2017 - 50
Greater Reading Chamber Commerce Quarterly Fall 2017 - 51
Greater Reading Chamber Commerce Quarterly Fall 2017 - 52
Greater Reading Chamber Commerce Quarterly Fall 2017 - 53
Greater Reading Chamber Commerce Quarterly Fall 2017 - 54
Greater Reading Chamber Commerce Quarterly Fall 2017 - 55
Greater Reading Chamber Commerce Quarterly Fall 2017 - 56
Greater Reading Chamber Commerce Quarterly Fall 2017 - 57
Greater Reading Chamber Commerce Quarterly Fall 2017 - 58
Greater Reading Chamber Commerce Quarterly Fall 2017 - 59
Greater Reading Chamber Commerce Quarterly Fall 2017 - 60
Greater Reading Chamber Commerce Quarterly Fall 2017 - 61
Greater Reading Chamber Commerce Quarterly Fall 2017 - 62
Greater Reading Chamber Commerce Quarterly Fall 2017 - 63
Greater Reading Chamber Commerce Quarterly Fall 2017 - 64
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Fall2017
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Summer2017
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Spring2017
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