cash surrender value of life insurance balance sheet

472 results for cash surrender value of life insurance balance sheet

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  • Planning Your Estate

    The basic goals of estate planning are to dispose of your property in accordance with your wishes and to avoid unnecessary taxes and expenses.

    ... (including your residence) and proceeds of life insurance on your life. Interests in existing .... . Values on this list may be approximate. The value of ..., one-half of the share at age 25 and the balance at age 30. Others establish a so-called “spray ..., and many assets may be converted into cash. However, if distribution is to be made into a ... of life insurance is roughly its cash surrender value, whereas its federal estate tax value is ...In addition, the corporate balance sheet must be analyzed to determine if there is an ...

  • Eastern Building Corporation v. C. I. R., 032344 FEDTAX, 112634

    ... deduction disallowed where property's useful life not ended-Prior Law-exclusion of bond retirement ... certain of its own bonds at less than face value with a resultant net profit of $19,237.54 and ... August 31, 1939, when the lease was surrendered and the premises vacated pursuant to notice given ...          On July 24, 1939, the balance sheet of the petitioner, taken from its books, ...803.01.          Cash on Deposit ................. 2,744.22. ...Insurance cost about $2,000 annually. ...

  • Key Buick Co. v. C.I.R., 092776 FEDTAX, 10131-74

    ... of 30,000 shares of common stock at $10 par value, of which 22,500 were issued and outstanding from ..., 9 individuals agreed to exchange $71,175 in cash for 5,475 shares of stock in Krico (1 share for ..., it began arrangements to terminate and surrender the franchise agreement between it and the ... operating deficit reflected on Regal's balance sheet as of December 31, 1967. In pertinent part, ..., an automobile leasing company and a life insurance company.          In 1967 ...

  • Foster v. C.I.R., 122766 FEDTAX, 1004-64

    ... the amount of $153,671 distributed to it in cash from two of its subsidiaries so that the loss ... include a finding as to the extent of the value of the assets transferred to each transferee as ...The consolidated balance sheet for the year ended June 30, 1957, shows ... FHA mortgage of principal and interest, insurance, taxes and mortgage insurance, and (2) initial ... were later assigned to the New York Life Insurance Co. (hereinafter referred to as NYLIC). ... to have possession of the houses surrendered under a declaration of taking, the minimum ...

  • Feilen Meat Co. v. C.I.R., 070584 FEDTAX, 6375-82

    ...          Petitioner's balance sheets as of the end of each year in issue were ... Assets FY 4/30/77 FY 10/31/77 . Cash $188,968.85 $259,921.90 . Accounts ... Cash Surrender Value 70,018.70 74,714.02 . (Life ...

  • Transportation Worker Identification Credential Program; maritime sector implementation: Commercial driver's license hazardous materials endorsement,

    ... any disqualifying offense to TSA and surrender the TWIC. In addition, the enrollment record for ... on: (1) Costs to the government; (2) the value of the service or thing to the recipient; (3) ...Payment can be made by cashier's check, money order, or credit card. The TWIC ... or noted that security needed to be balanced against fairness for maritime workers. One ...'s assumption that the cards have a 5-year life cycle; the South Carolina State Port Authority ...When a rap sheet is revealed following submission of an ... to other transportation sectors, and insurance of the accurate, efficient, and reliable function ...

  • Part II

    ... any disqualifying offense to TSA and surrender the TWIC. In addition, the enrollment record for ... on: (1) Costs to the government; (2) the value of the service or thing to the recipient; (3) ...Payment can be made by cashier's check, money order, or credit card. The TWIC ... or noted that security needed to be balanced against fairness for maritime workers. One ...'s assumption that the cards have a 5-year life cycle; the South Carolina State Port Authority ...When a rap sheet is revealed following submission of an ... to other transportation sectors, and insurance of the accurate, efficient, and reliable function ...

  • New York City Omnibus Corp. v. Commissioner of Internal Revenue, 113048 FEDTAX, 2757

    ... determined-correction of estimate of useful life of buses for depreciation in years in question ... item of difference arising over the value to be placed on street car franchises surrendered ... was obliged to create, and the unexpended balance of which, if any, it was required to pay over to ... of Railways would be paid in full in cash;.          (c) Petitioner would assume ... should be reflected on petitioner's balance sheet as a ‘contribution to surplus, or by other ...8,856.90.           Insurance Premiums................. 11,237.18. ...

  • The immovable object versus the irresistible force: rethinking the relationship between secured credit and bankruptcy policy.

    ... exemption of $15,000 and a residence valued at $120,000. Assume this property is subject to, ... the debtor may be able to scrounge up enough cash from other sources to redeem the property by ... 506(d), they were entitled to reduce the balance of a $120,000 judgment lien against their ... to Adler, would be openly to require surrender to the secured creditor of any collateral that ... is certainly not unheard of for a balance-sheet-solvent debtor to take refuge from cash flow ... claim originating in the debtor's prefiling life.(221) . How does this observation inform the ...John Hancock Mutual Life Insurance Co. (In re Holloway), 81 F.3d 1062, 1069-70 (11th ...

  • Tax Accounting Standards for Small Business.

    ...-Income Tax Basis, or alternate wording of Balance Sheet--Income Tax Basis, . * Statement of ...* Statement of Cash Flows--Income Tax Basis, . * Statement of Changes .... 4. Adjustments to the useful life of an asset. . D. The standard classified format ... on the financial statements using the same values used for the entity's Federal income tax return. ... assets, natural resources, cash surrender value of life insurance, restricted cash, and ...

  • Charles E. Smith & Sons Co. v. Commissioner of Internal Revenue, 051247 FEDTAX, 9461

    ...balance sheet for 1943 to include its liability for the ... involve deficiencies in income, declared value excess-profits and excess profits tax liability, ... which the corporation paid its creditors in cash 15 per cent of the amount of the debts, issued a ... to be calculated on a ten-year certain or life basis. The initial participants were to be ...          (c) That no property, insurance, or annuity contracts, payments or rights ...          (1) Surrender the contract on such life for the then cash value ...

  • 32 M.R.S. § 16202 - Exempt transactions
  • Nutter Bank Report, April 2015

    ... concerning other real estate and off-balance-sheet exposures, and separate account and equity ... organization's investment in a bank-owned life insurance (BOLI) hybrid product may qualify as a ... on the pool of assets are reflected in the cash surrender value of the BOLI recorded on the ...

  • Thornton v. Commissioner of Internal Revenue, 011145 FEDTAX, 3563

    ... a fee paid a stockholder for use of insurance policies to be deposited as collateral for a loan ... Taxpayer borrowed from a stockholder certain life insurance policies which were assigned to a bank ...Taxpayer was solvent and had ample cash funds to pay the accrued salary. The president ... liability for Federal income tax, declared value excess-profits tax, and excess-profits tax for ...The cash surrender value of the policies in which Mrs. Thornton was ...          The balance sheet of the Corporation as of February 28, 1941 ...

  • O'Connor v. C.I.R., 082567 FEDTAX, 38396

    ... . Declared Value Excess Profits Tax . ..., among others, the subjects of net worth, cash versus accrual method of accounting, ... did not have an accounts receivable ledger sheet for each client.          Partnership ... on December 31, 1946, payment for the balance of the rent due under the lease and asked that ...       The petitioners had a cash surrender value in life insurance on December 31 of each of ...

  • Goodman v. Commissioner, 010147 FEDTAX, 103137

    ... 1939 5294 Declared value excess profits tax 63,600.00 31,800.00 ...The certificate was surrendered on October 21, 1930, for transfer. The stock ... on November 21, 1931, to increase the balance in the account to $2,536.38. The balance in the ... equal amounts to the children during the lifetime of her husband and herself for their support, ..., Charles Goodman took out four life insurance policies with the Prudential Insurance Co. of ...          The balance sheets of petitioner in its income tax return for 1934 ... more, indicates an intention to make a cash gift of $5,000 to each child and the wife. In the ...

  • Estate of Broadhead v. C.I.R., 012866 FEDTAX, 79294

    ... on these properties and the fair market value of these properties at the date of foreclosure. ... to first mortgages to Connecticut General Life Insurance Company when petitioners foreclosed on ... of the timber was destroyed on the balance of the acreage. Approximately 50 percent of the ...The down cash payment is consideration for this lease according ... above described premises and thereby surrender this lease as to such portion or portions and be ... for the year 1950 and, on the very first sheet attached to that return as a schedule, made this ...

  • Ramey Inv. Corp. v. C.I.R., 011167 FEDTAX, 1414-65

    ...value of the property in which petitioner reinvested?. ... the United States paid $1,560,000 in cash and assumed all outstanding mortgages on the ...,000.00), the Lessee agrees to assign, surrender, bargain, sell, convey, and release to the ... of an increase or decrease in taxes or insurance.          After the petitioner acquired ... 1961; $500,000 on August 1, 1962; and the balance $499,729.75 on July 15, 1963. The $1,608,000 ...Petitioner's balance sheet at the end of that year disclosed the following ... to certain adjustments to the useful life of its Puerto Rican property and to the ...

  • New Mandatory Self-Disclosure Rule takes effect December 1st in Family Division

    A much needed mandatory self-disclosure rule is coming to New Hampshire on December 1, 2011. The concept of the rule is to streamline the discovery process by exchanging required financial documents early in the litigation process so that each party has the information they need to be prepared for mediation and a temporary hearing. The...

    ... statements to include profit and loss, balance sheet and income statements for the year in which ... of employer provided medical and dental insurance coverage for:   i. The party, ii. The ... to the filing of the action, any and all life insurance declaration pages, beneficiary ion forms and the most recent statements of cash, surrender and loan value.   (k) For the six ...

  • Implementation of FAS 96: temporary differences - scheduling and reversals.

    .... * The balance sheet is unclassified or the current portion of ... APB Opinion 16, the excess of the assigned value over the tax basis of LIFO inventories acquired .... 7. Cash Surrender Value of Life . Insurance . Proceeds ...

  • Neb. Rev. Stat. § 8-1111 - Transactions exempt from registration
  • Wallace Corp. v. C.I.R., 012364 FEDTAX, 95195

    ... 100,000 shares of common stock having a par value of $1 per share. Mahlon B. Wallace, Jr., ... debentures having unpaid principal balances totaling $280,000. These debentures were owned by ...was not shown any of petitioner's balance sheets and there was no discussion between T. R. and ... __-- . Current Assets: . Cash in banks and on hand . Accounts ... Cash Surrender Value Life Insurance . Cash Advances on ...

  • Estate of Wilson v. C.I.R., 080751 FEDTAX, 12211

    ...         Estate tax-Fair market value of shares of beneficial interest in a business ust determined-Proceeds of life insurance policy payable to named beneficiaries ... extension of time for the payment of the balance as allowed by law.          Included in ... under the terms of this trust, upon the surrender of such certificates and the issue of a new one ...          Cash ...................... $ 330,706.10. ... the account carried on petitioner's balance sheet as ‘ land‘ from a figure of $2,643,816.64 to ...

  • Ten Easy Ways to Make a Loan Nonsecuritizable

    ... lending institutions such as banks and insurance companies. Securitization of loans brings new ... lender lends money from its own balance sheet. Banks, for example, deploy funds generated ... loan is originated and funded and begins its life as a financial asset under administration. The ... covenants, reschedule obligations, impose cash management tools or modify the loan's collateral. ... loan, or a refinancing, or a consensual surrender of collateral in exchange for forgiveness of all ...'s net total revenue, the collateral's value (expressed as a loan-to-value ratio), and the ...

  • Monk v. C. I. R., 082847 FEDTAX, 9511

    ...'s stock to the issuing corporation for cash and settlement of his debt was not a distribution ..., the taxpayer sold the stock at book value, which was considerably higher than the cost. He ... advances was ever discharged by the surrender of stock. On a number of occasions (aside from ... of October, 1941, owed the corporation a balance of $158,075.30 on the note and $20,000 on open ... of $200,000, which appeared on the balance sheet of the corporation, was the subject of ...          Cash Value--Life Insurance ..... 44,571.65 51,146.95. ...