How much of the cost must don include in his income

Assignment Help Accounting Basics
Reference no: EM132240434

Question - Don Driller, who is 56 years old, is provided with $120,000 of group-term life insurance by his employer. Based on the IRS uniform premium cost table Don's required contribution to the cost of the policy is $0. His employer pays the entire cost. Don was covered for the full 12 months of 2018. How much of the cost must Don include in his income for 2018?

Reference no: EM132240434

Questions Cloud

Experience part of the firms culture : What made it that way and were you satisfied in the end. Was your experience part of the firms culture or did you get them on a bad day?
Record all necessary journal entries in the general ledger : The city of Salem issued purchase orders totaling $600,000. Record all necessary journal entries in the general ledger
Describe 3 pieces of legislation that may affect : Describe 3 pieces of legislation that may affect you with your personal work priorities
Implement functions that perform operations on ranges : CS 170 – High-level Programming - understand the purpose of using pointers (a range) with these arrays instead of relying on the size
How much of the cost must don include in his income : Don Driller, who is 56 years old, is provided with $120,000 of group-term life insurance by his employer. How much of the cost must Don include in his income
What are benefits of business networking : What are benefits of business networking? provide sample of networks you could join.
Describe 3 pieces of legislation : Describe 3 pieces of legislation that may affect you with your personal work priorities.
Discussion on strategic benefits planning : Compare and contrast the two approaches to strategic benefits planning referred to as "Top-Down" and "Backing-In". Based on your current organization's strategy
How these stressors negatively affected your job : How the reduction or removal of these stressors will positively affect employee or student satisfaction and performance.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd