Generally, if an employer pays for an employee's health, or medical insurance under a “cafeteriaâ€...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Generally, if an employer pays for an employee's health, or medical insurance under a cafeteria plan, which is a plan that gives the employee a certain amount of money that he or she can spend on benefits and the amount of the premiums is not included in the employee's income, then any benefits they receive from the insurance plans are:
Question Select one:
a
Not Taxable
b
Included in the employee's income
c
Taxable to of the benefits received
d
May be included in their income depending on their modified AGI and filing status
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
