Using Insurance to Reduce a Couple’s Taxes

The couple’s business had a ensign year, generating about $1 million in profits–much of that they designed to take as personal income.

They’d worked with financial confidant Michael Turner to defer $100,000 of that income by substantiating a Safe Harbor 401(k) and a profit-sharing plan. But a integrate was meddlesome in shortening their income taxes even further.

Unbeknown to Mr. Turner, they hatched an surprising devise to buy a…

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