Elisa is covered by a $200,000 group term life insurance policy of which her daughter is the sole beneficiary.  Elisa's employer pays the entire premium for the policy, for which the uniform annual premium is $0.75 per $1,000 per month of coverage.  How much, if any, of the cost of the group term life insurance is excluded from Elisa's gross income on an annual basis?  $0 $450 $1,350 $1,800

Jared, age 54, earns $300,000 per year and is a participant in his employer's 401(k) plan. Ignoring the ADP Test requirements, what is the maximum amount that Jared can defer under the 401(k) plan in 2019? O $19,000. $25,000. O $56,000. O $62,000.

France works for a company located in Pierrefonds, Québec. She earns an annual salary of S54,905.00 and is paid on a monthly basis, Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for France's coverage are a non cash taxable benefit of $32.00 per pay. France participates in the company's group Registered Retirement Savings Plan and contributes 3% of her salary to the plan every pay. She also pays $37.00 in union dues each pay. Her Québec deduction code is B. Determine France's provincial income tax deduction per pay period. Your answer:

Wang is a 43 - year old computer programmer who earns an annual salary of $80,000. His employer provides group - term life insurance coverage at twice the annual salary for all employees. The annual amount of income for each $1,000 of taxable insurance coverage for an individual 43 years old is $1.20. How much gross income must Wang report for this benefit? Group of answer choices $0 $132 $192 $96

Smithers is a self-employed individual who earns $27,000 per year in self-employment income. Smithers pays $1,850 in annual health insurance premiums (not through an exchange) for his own medical care. In each of the following situations, determine the amount of the deductible health insurance premium for Smithers before any AGI deduction and where the premiums are deductible. Please all parts including a,b,c, and d. The previous expert did nota. Smithers is single and the self-employment income is his only source of income(deductible as for AGI deduction only, deductible as an itemized deduction only. deductible as either a for AGI or itemeized deduction or not deductible)?Amount? b. Smithers is single, but besides being self-employed, Smithers is also employed part time by SF Power Corporation. This year Smithers elected not to participate in SF's health plan.(deductible as for AGI deduction only, deductible as an itemized deduction only. deductible as either a for AGI or itemeized…

Mr. Gilbert is self-employed and makes annual contributions to a Keogh plan. Mrs. Gilbert’s employer doesn’t offer any type of qualified retirement plan. Each spouse contributes $3,700 to a traditional IRA. In each of the following cases, compute the AGI on their joint return. a.AGI before an IRA deduction is $136,000. b.AGI before an IRA deduction is $196,800 Please answer fast without plagiarism .

Nancy, who is 59 years old, is the beneficiary of a $235,000 life insurance policy. What amount of the insurance proceeds is taxable under each of the following scenarios? Note: Do not round any intermediate division. Round your final answer to the nearest whole dollar amount. a. She receives the $235,000 proceeds as a lump-sum payment. b. She receives the proceeds at the rate of $4,525 a month for five years. c. She receives the proceeds in monthly payments of $1,370 over her remaining life expectancy (assume she will live 25 years). d. Use the information from (c). If Nancy lives beyond her 25-year life expectancy, what amount of each monthly payment will be taxable in the 26th year? a. Taxable insurance proceeds b. Taxable insurance proceeds per month c. Taxable insurance proceeds per month d. Taxable insurance proceeds per month $

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Edna spent the last 80 days of 2021 in a nursing home. The cost of the services provided to her was $24,000 ($300 per day). Medicare paid $14,000 toward the cost of her stay. Edna also received $14,000 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludible amount is $400. If the amount is zero, enter 0. What is the effect on Edna's gross income? The amount of her exclusion is $ and the amount included in her gross income is $

1. Robert works for American Motors. American Motors pays a $1,200 premium on Robert's health insurance in 2021. Robert has an operation on his big toe in 2021 that cost $7,200. The insurance company paid for $6,800 of it. Which one of the following is true for 2021? a.Robert must claim the $1,200 premium and the $6,800 insurance payment as income. b.Robert must claim the $1,200 premium paid by his employer as income. c.Robert must claim the $6,800 paid by the insurance company for the operation as income. d.None of these events are taxable on his 2021 return.   2. Electronically filed tax returns: a.Have error rates similar to paper returns. b.Offer faster refunds than paper returns. c.May not be transmitted from a taxpayer's home computer. d.Constitute less than 50 percent of the returns filed with the IRS.   3. John, age 25, is a full-time student at a state university. John lives with his unmarried sister, Ann, who provides over half of his support. His only income is $4,400 of…