What is Key Man Life Insurance and is it tax deductible?

In this video, I'll show you how to account for key man life insurance where the accounting treatment can differ between GAAP and IRS tax accounting. GAAP book to tax differences happen when the GAAP accounting and tax accounting are different. Key man life insurance is not deductible from a business tax perspective.
Check out the full video:
5 Examples of Book to Tax Differences ➡️ GAAP Accounting vs IRS Tax Accounting
• 5 Examples of GAAP and...
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Disclosure Disclaimer: The information in this video is provided for general educational purposes only and may not reflect changes in federal or state laws. Please consult with a professional tax advisor about your facts and circumstances.

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Check out the full video here 5 Examples of GAAP and IRS Tax Accounting Differences: ruclips.net/video/LQGDtnJ8dQY/видео.html