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Bank-owned Life Insurance
Corporate-owned life insurance (COLI), is life insurance on employees' lives that is owned by the employer, with benefits payable either to the employer or directly to the employee's families. Other names for the practice include janitor's insurance and dead peasants insurance. When the employer is a bank, the insurance is known as a bank owned life insurance (BOLI). COLI was originally purchased on the lives of key employees and executives by a company to hedge against the financial cost of losing key employees to unexpected death, the risk of recruiting and training replacements of necessary or highly trained personnel, or to fund corporate obligations to redeem stock upon the death of an owner. This use is commonly known as "key man" or "key person" insurance. Although this article refers only to practice and policy in the United States, key person insurance is used in other countries as well. Primarily in the 1990s, some companies aggressively insured a broad base of employee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experimental m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
In economics and finance, arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Protection Act Of 2006
The Pension Protection Act of 2006 (), 120 Stat. 780, was signed into law by U.S. President George W. Bush on August 17, 2006. Pension reform This legislation requires companies who have underfunded their pension plans to pay higher premiums to the Pension Benefit Guaranty Corporation (PBGC) and extends the requirement of providing extra funding to the pension systems of companies that terminate their pension plans. It also requires companies to analyze their pension plans' obligations more accurately, closes loopholes that previously allowed some companies to underfund their plans by skipping payments, and raises the cap on the amount employers are allowed to invest in their own plans. This will allow employers to deduct more money using the pension tax shield in times of high profits. It requires actuaries to use the equivalent of the projected accrued benefit cost method for determining annual normal cost. Other elements: * Provides statutory authority for employers to enroll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deferral
Tax deferral refers to instances where a taxpayer can delay paying taxes to some future period. In theory, the net taxes paid should be the same. Taxes can sometimes be deferred indefinitely, or may be taxed at a lower rate in the future, particularly for deferral of income taxes. Corporate tax deferral Corporations (or other enterprises) may often be allowed to defer taxes, for example, by using accelerated depreciation. Profit taxes (or other taxes) are reduced in the current period by either lowering declared revenue now, or by increasing expenses. In principle, taxes in future periods should be higher. Income tax deferral In many jurisdictions, income taxes may be deferred to future periods by a number of means. For example, income may be recognized in future years by using income tax deductions, or certain expenses may be provided as deductions in current rather than future periods. A 2010 study documents the large extent to which U.S. taxpayers accelerate their deductible sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dow Chemical
The Dow Chemical Company, officially Dow Inc., is an American multinational chemical corporation headquartered in Midland, Michigan, United States. The company is among the three largest chemical producers in the world. Dow manufactures plastics, chemicals, and agricultural products. With a presence in about 160 countries, it employs about 54,000 people worldwide. Dow has been called the "chemical companies' chemical company," as its sales are to other industries rather than directly to end-use consumers. Dow is a member of the American Chemistry Council. In 2015, Dow and fellow chemical company DuPont agreed to a corporate reorganization which involved the merger and split of Dow and DuPont into three different companies. The plan commenced in 2017, when Dow and DuPont merged to form DowDuPont, and finalized in April 2019, as the materials science division was spunoff from DowDuPont and took the name of the Dow Chemical Company. History Early history Dow was founded in 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Winn-Dixie (supermarket)
Winn-Dixie Stores, Inc., styled as Winn✓Dixie, is an American supermarket chain headquartered in Jacksonville, Florida. Winn-Dixie operates more than 546 stores in Florida, Alabama, Louisiana, Georgia, and Mississippi. The company has had its present name since 1955 and can trace its roots back to 1925. Winn-Dixie is known for its private label Chek brand soft drinks, which are produced in over 20 different flavors plus diet and caffeine-free varieties—one of the widest assortments. Winn-Dixie has been known as "The Beef People" throughout its lifetime. In its advertising and print media, Winn-Dixie used slogans such as “We’re Right For You” starting in 1984, “America’s Supermarket” from 1986 until 2001, “The Real Deal” from 2002 to 2004, and since 2018, “It’s a Winn Win!” Winn-Dixie has also been known for its use of the brand promises of "Fresh Checked Every Day" for its Jacksonville, Florida locations, "Getting Better All The Time" in its locatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Shelters
Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology can vary depending on local and international tax laws. Types of tax shelters Some tax shelters are questionable or even illegal: *Offshore companies. Due to differing tax rates and legislation in each country, tax benefits can be exploited. Example: If Import Co. buys $1 of goods from India and sells for $3, Import Co. will pay tax on $2 of taxable income. However, tax benefits can be exploited if Import Co. is to set up an offshore subsidiary in the British Virgin Islands to buy the same goods for $1, sell the goods to Import Co. for $3 and sell it again in the domestic market for $3. This allows Import Co. to report taxable income of $0 (because it was purchased for $3 and sold for $3), thus paying no tax. While the subsidiary will have to pay tax on $2, the tax is payable to the tax authority of Brit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knetsch V
''Knetsch v. United States'', 364 U.S. 361 (1960), was a decision by the United States Supreme Court concerning taxation law. The taxpayer was a saver who was convinced to buy a deferred annuity because the inside buildup on such policies is tax-deferred. However, he wanted to claim a deduction on the money he borrowed that he used to buy the annuity. The IRS won and the taxpayer was denied the deduction. An understanding of the economics would immediately reveal that the only reason the transaction had any chance of making sense for the taxpayer was the asymmetric way the-then current tax code allowed a current deduction on the loan liability at the same time allowed tax deferral on the purchased asset. Success would have legitimated tax arbitrage. See also *List of United States Supreme Court cases, volume 364 This is a list of all the Supreme Court of the United States, United States Supreme Court cases from volume 364 of the ''United States Reports'': External links {{SC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Service
The Internal Revenue Service (IRS) is the revenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law. It is an agency of the Department of the Treasury and led by the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The duties of the IRS include providing tax assistance to taxpayers; pursuing and resolving instances of erroneous or fraudulent tax filings; and overseeing various benefits programs, including the Affordable Care Act. The IRS originates from the Commissioner of Internal Revenue, a federal office created in 1862 to assess the nation's first income tax to fund the American Civil War. The temporary measure provided over a fifth of the Union's war expenses before being allowed to expire a decade later. In 1913, the Sixteenth Amendment to the U.S. Constitutio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inside Buildup
Inside may refer to: * Insider, a member of any group of people of limited number and generally restricted access Film * ''Inside'' (1996 film), an American television film directed by Arthur Penn and starring Eric Stoltz * ''Inside'' (2002 film), a Canadian prison drama film * ''Inside'' (2006 film), an American thriller film starring Nicholas D'Agosto and Leighton Meester * ''Inside'' (2007 film), originally ''À l'intérieur'', a French horror film directed by Alexandre Bustillo and Julien Maury ** ''Inside'' (2016 film), a 2016 Spanish-American film remake of the 2007 film * ''Inside'' (2011 film), an American social film * ''Inside'' (2012 film), an American horror film * ''Inside'' (2013 film), a Turkish drama film * '' Bo Burnham: Inside'', a 2021 American comedy special * ''Inside'' (2023 film), an upcoming film starring Willem Dafoe Television * "Inside" (''American Horror Story''), an episode of the tenth season of ''American Horror Story'' Music Albums * ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The National Law Journal
''The National Law Journal'' (NLJ) is an American legal periodical founded in 1978. The NLJ was created by Jerry Finkelstein, who envisioned it as a "sibling newspaper" of the ''New York Law Journal''. Originally a tabloid-sized weekly newspaper, the NLJ is now a monthly magazine that publishes online daily. The NLJ is owned by ALM (formerly American Lawyer Media). In September 2017, Lisa Helem was promoted to editor in chief. Content and publications ''The National Law Journal'' reports legal information of national importance to attorneys, including federal circuit court decisions, verdicts, practitioners' columns, coverage of legislative issues and legal news for the business and private sectors. The journal releases its list of the "100 Most Influential Lawyers in America" once every few years. The NLJ conducts surveys on issues of pertinence to the legal profession. In 1998, the NLJ released a survey that found that 82 percent of partners in large law firms believe the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Policy Values
Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both ''subjective'' and ''objective'' decision making. Policies used in subjective decision-making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result, are often hard to test objectively, e.g. work–life balance policy... Moreover, Governments and other institutions have policies in the form of laws, regulations, procedures, administrative actions, incentives and voluntary practices. Frequently, resource allocations mirror policy decisions. Policy is a blueprint of the organizational activities which are repetitive/routine in nature. In contrast, policies to assist in objective decision-making are usually operational in nature an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
