[Mail_treas] Whole Life Insurance

[Brian Rella]

I understand that when an employee is offered term life insurance that you
must add to the taxable income an amount that is calculated per IRS
guidelines and processed through the NC1 program.
My questions concerns Whole Life Insurance which carries a cash value.  Do
you calculate the taxable portion the same way or do you increase the
taxable income by another amount such as the amounts paid to the insurance
company on the employees behalf?

Any feedback is appreciated.

-- 
Brian Rella
Treasurer
Mahoning County Career & Technical Center
7300 N. Palmyra Rd.
Canfield, OH  44406
330-729-4111
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