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Revision as of 22:24, 15 October 2024
Income protection insurance can be critical in troubled x. It is also often referred to as job loss insurance or redundancy insurance on the inside UK in conjunction with some other countries. The policy protects the insured person against any partial or total income loss. The loss could have been due to several reasons pertaining to example loss of job, the company winding up, reduction of pay, and also an accident or illness because of which the person had giving up process. However do keep in mind that income protection insurance does not cover any pre-existing symptoms.
Another angle to consider: suppose company takes a loss of revenue for this year. As a C Corp there exists no tax on the loss, however there can also no flow-through to the shareholders several transfer pricing an S Corp. Losing will not help your personal personal tax return at almost all. A loss from an S Corp will reduce taxable income, provided there is other taxable income to decline. If not, then there isn't any no tax due.
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