Ask Question
BusinessBusiness
20 March, 19:20

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

+4
Answers (1)
  1. 20 March, 21:39
    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?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The Starr Co. just paid a dividend of $1.65 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year, indefinitely. Investors require a return of 12 percent on the stock.
Answers (1)
Assume the service rate for a queue in a truck-loading operation is 2 trucks per hour. Using the infinite queuing notion for the models presented in the textbook, which of the following is the average service time? a. 2 hours b. 1 hour c. 0.
Answers (1)
Troy Company budgeted $12 million for customer service costs, but actually spent only $10 million. Which of the following statements is the best course of action for management to take in this instance? A.
Answers (1)
Jaguar has full manufacturing costs of their S-type sedan of £22,803. They sell the S-type in the UK with a 20% margin for a price of £27,363.
Answers (1)
Why do managers consider direct costs to be more accurate than indirect costs?
Answers (1)
New Questions in Business
The following data have been recorded for recently completed Job 323 on its job cost sheet. Direct materials cost was $2,057. A total of 37 direct labor-hours and 194 machine-hours were worked on the job.
Answers (1)
True or false. A system where businesses work together to create a product or service for a customer is called a supply chain management system.
Answers (1)
An improvement to a local restaurant does not comply with the zoning ordinances because it was constructed prior to the adoption of the zoning laws, and its use is one that clearly differs from current zoning. This is known as?
Answers (1)
A few years ago, Young and Rubicam, Inc. developed the "Softer Side of Sears" campaign to target middle-income women. This agency provided research about that segment, media choices, and complete production of advertising for Sears.
Answers (1)
Kessen Inc.'s bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?
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?