Employers often use fringe benefits as a way to attract and keep great employees and to provide compensation for employees who may already have a high salary.  what were some of the fringe benefits that your employer provided?  Would these benefits be taxable or not taxable?  If your past employers did not offer fringe benefits, what would you have liked to see them offer?

Q: As we evaluate job related expenses, are self-employed taxpayers facing a considerable disadvantage…

A: As a self-employed / freelancer, you most likely have a level of freedom that your traditionally…

Q: Which of the following is not an approach to financing employee benefits? Select one: a.…

A: Employee benefits refer to the benefits that are provided to the employees over or above the…

Q: Which of the following statements is not correct about defined contribution plans?

A: The defined contribution plan shows the retirement benefit to the employees of the company. The…

Q: Which of the following is incorrect in relation to termination benefits? A benefit resulting from…

A: Solution: Following are correct statement in relation to termination benefits: A benefit resulting…

Q: The fringe benefit tax by nature is a final tax. b) The personal expenses of a managerial employee…

A: a. According to section 33(A) of the NIRC fringe benefit tax   on employees income to the withheld…

Q: posit for their pay. C. The fringe benefit must be subject to income tax. D. The amount of the…

A: 1  The right answer is D. The amount of the deduction must be listed on the employee's pay advice. 2…

Q: Which of the following does not qualify as a "for the convenience of the employer nontaxable fringe…

A: The "for the convenience of the employer" criterion is an important consideration for determining…

Q: What might a company do to prevent an employee from taking wages in kind?

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: Can the owner of a small business receive unemployment compensation? Explain.

A: Income Taxes- Federal, state, and local governments levy taxes on the gross income of individuals…

Q: 20. An SME does not need to account for its post-employment benefits costs. True or False

A: Post-employment benefits refers to the employment benefits provided by the employer to its…

Q: Suggest an alternative method of calculating the EITC that reduces this penalty for low-income…

A: EITC-The earned income tax credit, can be defined as the tax credit being received by the workers or…

Q: Which of the following is accurate advice for a client who is considering a nonqualified deferred…

A: NQDC plan is a plan that provides additional retirement benefits and long-term or mid-term incentive…

Q: the ONLY exclusion to the right of recovery of benefits as the employers ...   a) mini tort claim b)…

A: The right of recovery of benefits by the employer means when the employee or the person in the…

Q: Which of the following is true of defined benefit plans? Select

A: Under the defined benefit plans the employer contribute an amount and deduct an amount from the…

Q: With respect to qualified retirement plans, nondiscrimination rules prohibit employers from giving…

A: Non discriminatory rules prohibit a Company to give preferential treatment to some of its key…

Q: How is self-employment income treated differently than income earned when you work

A: Taxable income: Taxable income can be defined as income derived after adjustment of necessary…

Q: Which of these employees benefits is subject to fringe benefit tax? Fringe benefits to rank and…

A: Fringe Benefit Tax: A fringe benefit is any no-wage payment or benefit that is offered to workers by…

Q: Apart from the benefits required by legislation, what benefit can a company expect from offering…

A: Employee benefit are generally the non cash and indirect benefits that are provided in addition to…

Q: Your company has decided to offer company-sponsored, outsourced retirement planning to employees as…

A: Retirement benefits are the  monetary benefits to be paid at the time retirement to employees by…

Q: what financial arguments could you use to justify your proposed recommendations to segregate FLTs…

A: Following financial arguments can be used to justify proposed recommendations to the segregate FLTs…

Q: Which of the following does not describe a defined contribution plan? The employer bears the risk…

A: The question is related to Employee benefits. Define Contribution plan is plan where the employee…

Q: Why do you think fringe benefits are important enough to influence an employee's choice of employer…

A: Fringe Benefit: A fringe benefit is any non-wage payment or benefit that is provided to workers by…

Q: Which of the following is a fringe benefit that employers can discriminate among employees? Question…

A: Employee's Benefits -Employee perks are extra compensation that employers provide to their…

Q: An example of fringe benefit is:   the employee health insurance the direct labor wage rate.…

A: The fringe benefit is the extra compensation given to the employess in excess to regular and…

Q: It is a type of retirement plan where the benefit to be received by the employee is dependent on the…

A: Retirement plans are those in which amounts are invested periodically which accumulate until the age…

Q: You are a small employer, and are considering adding a retirement plan for you and your employees,…

A: I would recommend SEP-IRA plans (Simplified Employee Pension) and SIMPLE IRA plans.

Q: to X's defined benefit pension plan: The following Prepaid pension cost at the start of the year…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: As a manager, would you use financial incentives to compensate your employees? If so, what would be…

A: Financial incentive: Financial incentives are given with the intention of motivating employees. The…