If the death benefit is payable under a life insurance contract held by the qualified plan, the pure insurance amount of the death benefit is

Otis Carrington, a 50-year-old self-employed person, was severely injured in an auto accident and is no longer able to perform the tasks of any occupation. Which of the following is true?

According to the Treasury Regulations, a split dollar life insurance plan may be used only in an employer-employee relationship.

Corporate-owned key employee life insurance has no effect on a deceased key employee’s estate.

Magnum Enterprises is located five miles out of town. Magnum provides a hot and cold lunch on-site for employees without cost. Employees must include the value of meals eaten as part of their taxable income.

Defined benefit plans provide more benefit security than do age-weighted or cross-tested plans.

Advantages of a SIMPLE IRA from the viewpoint of the employee include

Interest on a car loan is deductible unless the owner is self-employed.

Defined benefit plans provide more benefit security than do age-weighted or cross-tested plans.

I. M. Best, owner of Best Corporation, wants his senior vice president, I. B. Better, to move from Milwaukee, Wisconsin, to Smyrna, Georgia, to open a branch office. Housing prices in Milwaukee are in a slump. Better’s house has been on the market for six months and has gotten only one offer that’s about $10,000 below market. Best wants to prevent Better from getting an inadequate price on his home due to a forced sale using the method that generates the greatest tax advantage for Best and Better. What should Best do?