@kelynntan: 💧 Don’t miss out! Get The True Cream - Aqua Bomb during the 9.9 sales from 9-11 Sep on belif's Official Shopee & Lazada stores. Your skin will thank you! #belifSingapore #TheTrueCream #AquaBomb #SkincareRoutine #GlowyMakeup

kelynn
kelynn
Open In TikTok:
Region: SG
Saturday 07 September 2024 02:57:06 GMT
7875
97
0
4

Music

Download

Comments

There are no more comments for this video.
To see more videos from user @kelynntan, please go to the Tikwm homepage.

Other Videos

📜 IRS Tax Code Breakdown for Life Insurance By BShynaz Legacy Financial – #IamMrFinance | #CoachKeyon Here’s what you need to know to protect your wealth and avoid unnecessary taxes on life insurance. ⸻ 1️⃣ Key IRS Sections You Should Know 	•	IRC §101(a) – Death benefits are generally income tax–free. 	•	IRC §101(g) – Terminal/Chronic illness payouts may be tax-free. 	•	IRC §7702 – Defines a “life insurance contract” for tax purposes. 	•	IRC §72(e) – Rules for cash value withdrawals, loans, and surrenders. 	•	IRC §2042 – Estate tax rules if you own the policy at death. 	•	IRC §264(a) – Business premium deductibility rules. 	•	IRC §101(j) – Special rules for employer-owned life insurance. ⸻ 2️⃣ When Life Insurance Is Tax-Free ✅ Death Benefits – Paid to beneficiaries tax-free (unless transferred for value). ✅ Accelerated Benefits – Terminal/Chronic illness payouts can be tax-free. ✅ Policy Loans – Not taxable if the policy stays active. ⸻ 3️⃣ When It Can Be Taxable 💰 Cash Value Withdrawals – FIFO for non-MEC life insurance; LIFO for MECs. 💰 Loans on MECs – Gains taxed first. 💰 Policy Surrender – Gains taxed as ordinary income. 💰 Estate Tax – Death benefit included in estate if owned at death. 💰 Transfer for Value Rule – Selling the policy may cause taxation. 💰 Business-Owned Policies – Must follow IRS §101(j) rules to avoid taxes. ⸻ 4️⃣ Special Rules 	•	MEC Rules – Avoid exceeding IRS premium limits to keep withdrawals tax-free. 	•	Section 1035 Exchange – Swap policies tax-free if structured properly. 	•	ILIT (Irrevocable Life Insurance Trust) – Keeps proceeds out of taxable estate. ⸻ 5️⃣ Key Takeaways for Clients & Agents ✔️ Death benefits are usually tax-free, but structure matters. ✔️ Watch MEC limits to protect tax benefits. ✔️ Use trusts and proper ownership for estate planning. ✔️ Business owners must follow notice & consent rules. ⸻ 📚 Learn more about our complimentary financial classes, planning, and services 👉 Https://linktr.ee/bshynazlegacyllc ⸻ #IamMrFinance #CoachKeyon #financialfreedom #financialliteracy #PersonalFinance #investing #wealth #money #financialplanning #entrepreneur #BshynazLegacy #MasterYourBudget
📜 IRS Tax Code Breakdown for Life Insurance By BShynaz Legacy Financial – #IamMrFinance | #CoachKeyon Here’s what you need to know to protect your wealth and avoid unnecessary taxes on life insurance. ⸻ 1️⃣ Key IRS Sections You Should Know • IRC §101(a) – Death benefits are generally income tax–free. • IRC §101(g) – Terminal/Chronic illness payouts may be tax-free. • IRC §7702 – Defines a “life insurance contract” for tax purposes. • IRC §72(e) – Rules for cash value withdrawals, loans, and surrenders. • IRC §2042 – Estate tax rules if you own the policy at death. • IRC §264(a) – Business premium deductibility rules. • IRC §101(j) – Special rules for employer-owned life insurance. ⸻ 2️⃣ When Life Insurance Is Tax-Free ✅ Death Benefits – Paid to beneficiaries tax-free (unless transferred for value). ✅ Accelerated Benefits – Terminal/Chronic illness payouts can be tax-free. ✅ Policy Loans – Not taxable if the policy stays active. ⸻ 3️⃣ When It Can Be Taxable 💰 Cash Value Withdrawals – FIFO for non-MEC life insurance; LIFO for MECs. 💰 Loans on MECs – Gains taxed first. 💰 Policy Surrender – Gains taxed as ordinary income. 💰 Estate Tax – Death benefit included in estate if owned at death. 💰 Transfer for Value Rule – Selling the policy may cause taxation. 💰 Business-Owned Policies – Must follow IRS §101(j) rules to avoid taxes. ⸻ 4️⃣ Special Rules • MEC Rules – Avoid exceeding IRS premium limits to keep withdrawals tax-free. • Section 1035 Exchange – Swap policies tax-free if structured properly. • ILIT (Irrevocable Life Insurance Trust) – Keeps proceeds out of taxable estate. ⸻ 5️⃣ Key Takeaways for Clients & Agents ✔️ Death benefits are usually tax-free, but structure matters. ✔️ Watch MEC limits to protect tax benefits. ✔️ Use trusts and proper ownership for estate planning. ✔️ Business owners must follow notice & consent rules. ⸻ 📚 Learn more about our complimentary financial classes, planning, and services 👉 Https://linktr.ee/bshynazlegacyllc ⸻ #IamMrFinance #CoachKeyon #financialfreedom #financialliteracy #PersonalFinance #investing #wealth #money #financialplanning #entrepreneur #BshynazLegacy #MasterYourBudget

About