As a one doctor practice, chiropractor, I am considering a C-Corp, S-Corp or LLC. I am more concerned with tax advantages
than liability issues.
1. I have $1400 per month whole life insurance premiums and $150 for term life with me as the insured; and $500 per month in health ins premiums. I believe that a C-corp can deduct these premiums as a business expense
2. Does the Corp have to be the beneficiary of the Life policy?
3. Can an S-corp take these premiums as a business expense or do I as the sole shareholder get taxed on them as a fringe benefit?
4. Can the LLC deduct premiums or am I liable?
5. I believe that the cash value of whole life policies cannot be subject to seizure in the case of a law
6. Does this hold true if they are owned by the company, LLC C-Corp, or S-Corp?
7. Same general question with regard to an automobile lease. Is the lease payment deductible with either of the 3 entities?
8. The lease is pre-existing in my name, can it be transferred to C-Corp/ S-Corp / LLC as a company car?
Thanks in advanse for your help.