I am 59-1/2 year old and planning to consolidate several of my IRA's to purchase a qualified single premium immediate annuity with a five year payout period. I have an insurance consulting business which is an S-corp and I am its only employee. My questions are: 1.) If I deposit my annuity payments into my S-corp, would they be considered loans to the business and, if so, would they be deductible as such on my personal tax return? 2.) Since my annuity payments will be coming from IRA's which have never paid taxes, would I be able to pay my state and federal income taxes on my annuity income from my S-corp (as part of the income taxes that I pay on my regular income from the business)? I make monthly electronic federal and state income tax payments from my S-corp and file quarterly 941 forms.