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np3
Returning Member

Funding life insurance from company contributions

I have an LLC and i am looking for additional  tax deductible expenses. I found a whole life insurance product that also grows by investing.  Can i use company contributions to fund the premiums such a life insurance. 

 

I am a single employee LLC. I generate a W2 for my self and it is approximately 45% of my revenue and i also fund a solo 401k . After this i have significant profits that will pass through the K1 to me.

 

I am looking to see if this is legal. Please advise.

 

 

2 Replies
tagteam
Level 15
dmertz
Level 15

Funding life insurance from company contributions

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