1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nana76 [90]
2 years ago
5

An individual contributed $50,000 to her nonqualified annuity, and when she annuitized the policy, the insurance company determi

ned that, based on her life expectancy, she will receive $100,000 in payments. If her initial monthly payment was $1,000, how much of that payment was taxable?
Business
1 answer:
AURORKA [14]2 years ago
5 0

Payment of $500 will be taxable, as Non-qualified annuity distributions are never tax-free.

<h3>What is a nonqualified annuity? </h3>

An individual can acquire a non-qualified annuity apart from an employee benefit. The tax-deferred growth of your investment is a benefit of an annuity.

Working note-

nonqualified annuity of an individual=$50,000

expected distribution=$100,000

initial payment=$1,000

=cost basis/expected distribution

=$50,000/$100,000

=0.50

To calculate how much payment was taxable-

The initial payment will be multiplied by the find rate

                 =$1,000*0.50

                 =$500

Therefore, $500 will be a taxable payment.

Learn more about insurance, here:

brainly.com/question/27822778

#SPJ1

You might be interested in
According to the Portland Business Journal, Jim Houser, a Portland auto specialist, landed a key Small Business Administration a
mario62 [17]

Answer:

reconciliate balance $ 22,388,675‬

Explanation:

bank statement:                18,835

deposits in transit           100,740

                                 22,376,200

outstanding check

  10189                            (56,710)

  10192                            (15,365)

  10193                           (22,650)

  10194                            (12,375)

Adjusted balance:  22,388,675‬

checkbook balance: 22,385,105

      interest earned           4,020

      ATM card fees              (450)

  Adjusted balance:  22,388,675

Notes: For each statement we adjust for the unknown information.

The bank is unaware of the outstanding check and the deposit in transit.  So we adjust for these concepts.

The company has no knowledge of the ffes and interest earned until receiving the bank statement so we must adjust for that amount.

7 0
3 years ago
To improve the effectiveness of the marketing control process, the marketing manager should?
Maslowich

Answer:

The manager for what ever business there in should reach sufficient standards for the clients and to make clients feel good and there actually getting something good out of He/Hers Company.

Explanation:

7 0
2 years ago
Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas willdecrease .
Usimov [2.4K]
The answer is C , thank me later
7 0
3 years ago
To increase the number of orders it receives from recipients of its direct-mail advertising, the maker of All-Natural Diet Produ
STALIN [3.7K]

Answer:

C. business reply

Explanation:

In the case when we have to increase the no of orders that could be received via direct mail adverstising and the customer could use the special kind of envelope for mailling the orders so this should be an example of business reply mail as it is concerned with the business and here the orders are to be an important factor that becomes very important for the company.

Therefore the option c is correct

8 0
3 years ago
Usually a company is classified as a single business firm when revenues generated by the dominant business are greater than ____
hammer [34]

Answer: A company is classified as simple business when revenues generated by the dominant business are greater than 95%.

Explanation: The advantage of having a company where its profits come from a single type of activity, is that they concentrate all their forces and can have a better competitive advantage than in the opposite case, activities are diversified. Example: A company dedicated to the manufacture of private vehicles would be simple if it only executes the manufacture of vehicles and diversified when it sells in addition to private vehicles, trucks and motorcycles.

4 0
3 years ago
Other questions:
  • When there is a challenge, Luis is up for it. Deadlines and complex tasks that would send others running are enjoyable to Luis,
    14·1 answer
  • A customer has requested that Lewelling Corporation fill a special order for 2,600 units of product S47 for $31 a unit. While th
    5·1 answer
  • Keyser Materials has 8 percent coupon bonds on the market with 19 years to maturity. The bonds make semiannual payments and curr
    5·1 answer
  • When vegans carry signs that read "meat is murder" or when antiabortion marchers hand out literature illustrated with gruesome p
    8·1 answer
  • Which of the following situations would be considered cyclical unemployment? Choose one or more: A. A typewriter repair shop clo
    8·1 answer
  • Help!!!!!!!!!!!<br> Can you answer this question? :(
    12·1 answer
  • If a firm adheres strictly to the residual dividend policy, and if its optimal capital budget requires the use of all earnings f
    15·1 answer
  • g 1)Which of the following strategies are used by business firms to capture consumer surplus?1)A)Two-part tariffsB)Price discrim
    14·1 answer
  • "All of the following are reasons that implementing a new ERP may fail except
    5·1 answer
  • A financial services firm that charges customers based on a percentage of the assets under management is best defined as:_______
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!