Tax Considerations for Accident and Health: Terms Flashcards
1
Q
____________________ gross income (all income from whatever sources) minus adjustments to income
A
Adjusted gross income
2
Q
________________ the employer specifies an amount of benefits promised to the employee
A
Defined-benefit plans
3
Q
_______________ focus on contributions rather than on the benefits they will pay out
A
Defined-contribution plans
4
Q
_________________a qualified expense that may reduce the amount of income subject to taxation
A
Tax deductible
5
Q
__________not subject to taxation
A
Tax exempt
6
Q
__________subject to taxation
A
Taxable
