Ethics, taxes, contracts and ethical dilemmas

Article Abstract:

Drafters of both tax laws and insurance sales compensation schedules should ensure that both are drafted fairly to minimize the incentive for taxpayers and insurance agents, respectively, to act unethically. Complex tax laws and high rates provide the incentive to cheat, and de minimis rules should be used to eliminate trivial illegalities. Sales bonuses and awards should not be used in compensation plans because they will make it more difficult for agents to do the right thing and sell clients only the insurance that they need.

Tax reform, Insurance policies, Taxpayer compliance

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Reducing the tax burden of transfers to charities

Article Abstract:

Businesses can transfer funds to charities in such a way as qualifying as business expenses. Tax burdens for both parties must be carefully analyzed to find which structure will created the lowest taxes. A spreadsheet designed with either Excel 5.0 or Lotus 1-2-3 for Windows can help determine which treatment will produce the lowest tax burden.

Laws, regulations and rules, Tax planning, Practice, Gift tax

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Choices and consequences

Article Abstract:

A life insurance agent must be aware of the ethical issues faced every day. Ethical decision-making requires careful analysis of the choices available and the potential consequences, in a manner similar to a career change, so that one's immediate goals do not conflict with one's overall personal values.

Analysis, Professional ethics

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