Ask Question
BusinessBusiness
18 May, 04:11

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

+1
Answers (1)
  1. 18 May, 07:05
    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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
How does a sieve or colander demonstrate the property of selective permeability?
Answers (1)
Which term describes judging an individual based on the group to which they belong?
Answers (1)
If you spend less money on an item than you planned to spend, this is an unfavorable variance in your budget analysis. True / False.
Answers (1)
The primary purpose of a pull strategy is to
Answers (1)
The overwhelming majority of existing businesses are A. sole proprietorships. B. close corporations. C. corporations. D. partnerships.
Answers (1)
New Questions in Business
Which of the following are true? Select one or more: (a) The t-distribution is dependent on the sample size. (b) The t-distribution does not depend on the sample size.
Answers (1)
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 13.6 Process time 2.7 Inspection time 0.3 Move time 3.3 Queue time 7.0 The delivery cycle time was:
Answers (1)
During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible.
Answers (1)
How often is interest earned from bonds usually paid to the bond holder? 1) Every month 2) Once per year 3) Twice per year 4) Every two years
Answers (1)
Rexeleg Company manufactures a product with the following costs per unit at the expected production of 40,000 units: Direct materials $5 Direct labor 10 Variable overhead 7 Fixed overhead 9 The company has the capacity to produce 50,000 units.
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?