Ask Question
BusinessBusiness
15 May, 09:41

What taxes apply to the benefits under an individual Disability Income Policy on which the insured has paid the premiums?

+2
Answers (1)
  1. 15 May, 09:58
    0
    The correct answer is (A)

    Explanation:

    Taxes are used to increase government revenue, and to improve government budget. No tax is applied to the benefits under an individual disability income policy. There are various reasons why no tax is applied, but the major reason is that premiums are not deductible. Overall, governments usually don't apply taxes on individual disability income and generally give subsidies.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What taxes apply to the benefits under an individual Disability Income Policy on which the insured has paid the premiums? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What can be a result of free trade? Check all that apply. A. the attractiveness of the currency design B. the location of the country C. supply and demand D. distance between countries
Answers (2)
Rockwell Collins is a manufacturer of avionics and communications systems for corporate aircraft. In response to a general slowdown in the business aviation industry, Rockwell announced cutbacks for the items it makes for small and midsize jets.
Answers (1)
How would an increase in the labor force affect the revenues collected by the federal government?
Answers (1)
Jane transfers property (basis of $180,000 and fair market value of $500,000) to Green Corporation for 80% of its stock (worth $425,000) and a long-term note (worth $75,000), executed by Green Corporation and made payable to Jane.
Answers (1)
Explain the purpose of a job interview for both the employer and the applicant
Answers (1)
New Questions in Business
In which year were tobacco commercials banned from network television in the united states?
No Answers
Maggie's manager notices that she exhibits an external locus of control when she speaks about her work. Her manager should Group of answer choices a. direct Maggie toward a job with more autonomy. b.
Answers (1)
Consider this argument: "The kidnappers have taken eight people hostage and are holding them at a farmhouse just outside town. If the SWAT team assaults the farmhouse, the hostages could be killed.
Answers (1)
Rent seeking is an attempt to A. use the government for individual benefit at the expense of others. Regulatory capture is an example of this, where a regulatory agency makes decisions benefiting the firm being regulated. B.
Answers (1)
An Insurance company is a business in which it pays to the company if there is a loss, damage, treatments or injury for the payment of premium amount. It calculates the risks that has occurred and pays to compensate the premium amount.
Answers (1)
Home » Business » What taxes apply to the benefits under an individual Disability Income Policy on which the insured has paid the premiums?
Sign Up Forgot Password?