Hi,

I formed LLC in 2015 but had personal life insurance way before that, same with my other employee as well. Is it possible to claim the life insurance premium payment as deduction for an LLC filing 1120S ? I presume there is no benefit to the LLC with this life insurance as it had started before LLC was formed and am thinking if this can be used as employer expense just like employer sponsored health insurance expense.

Another question -- I have a invoice for last 2 weeks of 2016 for which payment was made in 2017. Should I consider this amount for 2016 or 2017 Gross Receipts or Sales (or Income) ?