How much of the insurance and treatment payments are taxable to Emily?

Q: Is anyone available to take the earned income credit regardless of age?

A: Earned income tax credit helps the individuals from lower income group to get tax refund or rebate.

Q: What amount can she deduct for eligible medical and dentals expenses

A: Medical expenses are the costs incurred for the treatment or prevention of diseases. It also…

Q: Social security payable and medicare tax payable are classified as

A: Introduction: Balance sheet: All assets and liabilities are recorded in Balance sheet. Balance sheet…

Q: In what ways are pension benefits and post-retirement healthcare different?

A: This is about In what ways are pension benefits and post-retirement healthcare different

Q: How many social security credits do individuals need to be eligible for retirement, disability, and…

A: Social Security credits: These are the “building blocks” the Social Security Administration uses to…

Q: Which of the following factors is least likely to affect the amount of retirement benefits under a…

A: Defined benefit pension plans are the retirement designs that include providing a fixed and…

Q: es a SIMPLE IRA have a matching contribution from the employer to the employee?  Yes or No.

A: Simple IRA refers to the savings incentive match plan for the employees of the company which is a…

Q: In what ways do healthcare benefits for retirees vary from pensions?

A: This question tells about healthcare benefits for retirees vary from pensions

Q: Why does every person behave differently depending on their financial incomes

A: Each and every individual is different from the other, and the thinking process and criteria are…

Q: Explain low-income housing tax credit?

A: Low-income housing tax credit: The low-income housing tax credit is an inducement of tax for housing…

Q: Amounts receivable by the estate of the deceased, his executor or administrator as an insurance…

A: Under section 85(E) of the national internal revenue code, insurance shall be computation of the…

Q: What are the essential differences between social insurance and public assistance programs? Why is…

A: Social insurance program: It is a government sponsored program. They are generally funded through…

Q: What are some costs of home ownership that are not deductible?

A: Costs are the monetary value of expenditures for goods, services, labor, products, equipment, and…

Q: Which are the components that are included in the pension expense?

A: Pension plan: Pension plan is an agreement between the employer and employee. After the retirement…

Q: Why does group life insurance use a formula to determine the amount of insurance per employee?

A: Group term life insurance: Group term life insurance refers to a type of term insurance in which one…

Q: Why is pension plan underfunding not a concern in your present employment?

A: Definition of pension plan: This is the plan devised by corporations to pay the employees an income…

Q: Which type of pension plan would you prefer to be covered under (i.e., defined benefit, defined…

A: In this there are many types of pension plans available and each have own characteristics.

Q: When it comes to postretirement healthcare benefits, what are the primary distinctions between them…

A: The answer:

Q: us-r

A: A distribution is coronavirus-related if it fits all three of the following criteria:• It can be…

Q: If the insured outlived the life insurance policy, the proceeds shall be taxable to the beneficiary…

A: If the insured outlived the life insurance policy, he/she will get his/her premium back, this…

Q: What is a Defined Contribution Pension Plan? What are some other pensions plans, and how do they…

A: A pension plan or retirement plan will take care of your post-retirement financial needs and…

Q: Why should you be concerned with retirement and estate

A: The retirement planning of the most important decisions because it involved  part of the decisions…

Q: Payments by employers of premiums on life insurance for employees are not taxable benefits. Select…

A: Tax deductible Expenses: Expenses that are deductible for tax purposes include those deemed…

Q: If a person is not eligible for the health insurance premium tax credit because of

A: Tax is the charge which is charged on the taxable income of a taxpayer and each taxpayer wants to…

Q: What is the general term that covers social insurance and pension fund payments alone with wages and…

A: Social security schemes, is the term that covers social insurance and pension fund payments alone…

Q: Which is the following is true about your pension? a) You can name someone other than your spouse as…

A: Consent rules with respect to qualified plants stem from the retirement equity act of 1984. As a…

Q: What claims against an estate have priority?

A: Definition:   Priority claims of assets: When sufficient funds are not available then the order of…

Q: What are some other pensions plans, and how do they differ from the Defined Contribution Pension…

A: A retirement plan that would earn the investments return in addition to the savings of each…

Q: Accounting for postretirement health care benefits is similar, in most respects, to accounting o O…

A: Pension Plan -One kind of retirement plan is a pension plan, in which businesses agree to provide…

Q: What is a private pension plan? How does a contributorypension plan differ from a noncontributory…

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: What are the benefits provided by Employee Retirement Income Security Act?

A: The Employee Retirement Income Security Act is an organizational law that recognizes the minimum…

Q: Explain how to determine pension expense.

A:

Q: What are postretirement benefits other than pensions?

A: Pension fund: A fixed sum of money is receivable in future or after the age of retirement, which the…

Q: An application for an individual Disability Income policy may require all of he following…

A: Disability income policy is an insurance policy which protects the insured against loss of monthly…

Q: Why is it necessary for you to contribute to a pension?

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

Q: Whenwhen are final medical expenses deductible?

A: Medical Expense -Any costs associated with preventing or treating an injury or illness are referred…

Q: is taxable?  A. Proceeds of life insurance received by heirs B. Excess amount received over…

A: Taxable income: Taxable income is the income which are subject to payment of taxes. Therefore, any…

Q: For purposes of computing the credit for child and dependent care expenses, the qualifying child or…

A: The child and dependent care credit refers to a non refundable tax credit reform which is offered to…

Q: What are the major differences between post-retirement healthcare benefits and pension benefits?

A: For the benefits of pension, it is fixed with the contract terms and only the term is not known. And…

Q: If one tax is not eligible for the health insurance premium tax credit because of

A: Tax is the charge which is charged on the taxable income of a taxpayer and each taxpayer wants to…

Q: Explain the differences between something being tax-deferred or tax-exempt. Which retirement plan,…

A: Tax deferred savings plan:   A tax deferred savings plan refers to an investment account that allows…

Types of Insurance Contract

Insurance is a contract wherein an individual or entity gets financial protection from the insurance company for any damages or losses incurred. The individual or entity is called the insured, whereas the insurance company is called the insurer. The insured and the insurer enter a legal contract for a fixed term called the insurance term, and the contract is called an insurance policy.