In 2001, Titoâs Handmade Vodka won the double gold medal for best vodka at the San Francisco World Spirits Competition. That means it was a unanimous decision. That also means that there are judges who are invited to San Francisco every spring to drink for free and that it must be nice to be a judge of such things.
But interest that accrues on a cash value life insurance policy will be considered taxable income, and you should receive a Form 1099 showing the total interest earned each year, he says. Many insurance companies offer policyholders the option of using their interest to buy additional insurance.
The IRS does not tax these types of gifts regardless of the amount of the gift. Invest in life insurance. Many life insurance policies will cover any estate taxes so that your heirs will not have to pay them after you die.You can set up a trust fund as the beneficiary of the life insurance policy if you wish.he IRS does not tax these types of gifts regardless of the amount of the gift. Invest in life insurance. Many life insurance policies will cover any estate taxes so that your heirs will not have to pay them after you die.