Tax Bracket Shifting
Definition of "Tax bracket shifting"
Arrangement of financial affairs such that a family member who is in a lower income tax bracket receives income that another family member would otherwise have received (thereby reducing the taxes paid by the family unit).
Popular Insurance Terms
Person (the transferee to whom the property is transferred) who is at least two generations younger than the person (the transferor) who is transferring the property. This type of property ...
Method used to determine the policyholder's return on premiums paid into a life insurance policy. This method is illustrated in two ways:.Surrender of Policy Approach calculation of the ...
Section in some property insurance contracts that eliminates further coverage for buildings after they have collapsed from causes other than fire or explosion. For example, fire coverage ...
Dividends of a participating life insurance policy deemed by the Internal Revenue Service to be a return of a portion of premiums and thus not subject to taxation. ...
Coverage for dental services under a group or individual policy. ...
New rule entitled "Accounting for Certain Investments in Debt and Equity Securities," which requires most fixed maturity investments to be listed on the INSURANCE COMPANY'S FINANCIAL ...
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Same as term Blanket Position Bond: covers all employees of a business on a blanket basis with the maximumlimit of coverage applied separately to each employee guilty of a crime. ...
Hazard covered under catastrophe reinsurance. This form of excess of loss reinsurance protects the ceding company for loss above the retention limit caused by multiple catastrophic events. ...
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