is a payment from aflac

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PostPosted: Fri Jan 30, 2009 12:19 am   Post subject: is a payment from aflac  

is a payment from aflac from a disability policy considered taxable income
midniteangel
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PostPosted: Fri Jan 30, 2009 6:25 am   Post subject:   

Was it through your employer? or you have purchased it individually? If you have paid the premium from your after tax income then it might not be taxable. You may talk to an aflac associate regarding this.
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PostPosted: Fri Jan 30, 2009 6:35 am   Post subject:   

Yeah, if your employer has paid the premium then it would be considered as deferred compensation and therefore is taxable. However, the benefits received from a private disability policy isn't taxable if paid by the policy holder with his after tax money.
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PostPosted: Mon Feb 23, 2009 8:18 pm   Post subject: aflac payments and income tax  

What if the payment was paid entirely by the employee but came out of pretax dollars - were deducted from the paycheck prior to taxation?
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PostPosted: Sun Jun 28, 2009 10:40 pm   Post subject:   

If the money was paid pre-tax then the proceeds are probably taxable. Check with your company's HR or with your tax advisor if you have one.
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