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book McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver cover

McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

النسخة 3الرقم المعياري الدولي: 9780078111068
book McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver cover

McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

النسخة 3الرقم المعياري الدولي: 9780078111068
تمرين 49
Stephen operates a small hardware store on the cash method.On July 1 of this year, Stephen purchased a "key-employee" term-life policy that insures the life of his best store clerk.The policy cost Stephen $1,220 and will pay him a $40,000 death benefit if his clerk passes away any time during the next 12 months.a.What amount of the $1,220 life insurance policy premium can Stephen deduct this year?
b.Suppose that Stephen purchased the life insurance policy on the clerk's life but allowed the clerk to name the clerk's wife as the beneficiary.What amount of the life insurance policy can Stephen deduct this year?
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McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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