Taxes: Employee Benefits Flashcards
1
Q
Taxes:
Employee Benefits
Non Accountable Plans
A
Non Accountable Plans
- All expenses reimbursed are treated as income
2
Q
Taxes:
Employee Benefits
Cafeteria Plan
A
Cafeteria Plan
- employees select from own menu of benefits
3
Q
Taxes:
Employee Benefits
Dividend Income on shares
A
Included in Gross Income
The dividend income on shares of stock that the taxpayer received for services rendered.
4
Q
Taxes:
Employee Benefits
Group Term Life Insurance
A
Group Term Life Insurance
- exclude the first $50,000
- (Remainder/1000) x Rate = Includible Income
