Harold is 53 years old in 2017. In 2017, he receives group-term life insurance coverage...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Harold is 53 years old in 2017. In 2017, he receives group-term life insurance coverage of $85,000 and makes an annual pretax contribution toward the premium of $50. What is his annual taxable income for this benefit?
a. $201.60 b. $96.60 c. $251.60 $46.60
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!
