Deducting life insurance costs: Why opportunity may be overlooked

By Dale Barrett and Simon Townsend ( January 26, 2021, 12:42 PM EST) -- In part one, we discussed paragraph 20(1)(e.2) in the Income Tax Act (the Act), which allows an individual or business to deduct the reasonable cost of life insurance in the event it is used as collateral in a business financing agreement. We also discussed when this provision would be useful....