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Alex
3 years ago
12

A client has purchased a nonqualified variable annuity from a commercial insurance company. Before the contract is annuitized, y

our client, currently age 60, withdraws some funds for personal purposes. What is the taxable consequence of this withdrawal to your client?
Business
1 answer:
ruslelena [56]3 years ago
6 0

Answer:

Ordinary income taxation on the earnings withdrawn until reaching the owner's cost basis.

Explanation:

Ordinary income refers to income that is taxed according to the regular U.S. tax brackets and includes many types of income. This includes wages, salaries, tips, and commissions, but excludes long-term capital gains and qualified dividends, both of which are taxed at more favorable rates

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What is the 4 MAJOR
bogdanovich [222]

Answer:

- The presence of a duty. We all have a duty to take steps to prevent injury from occurring to other people.

- The breach of a duty. The defendant must have failed to live up to his duty to prevent injury from occurring to you.

- An injury. You were injured.

- The injury resulted from the breach.

Explanation:

Hope this helps.

3 0
3 years ago
Ann is considering the purchase of a life insurance policy with these characteristics: flexible premium payments; the insurance
satela [25.4K]

Answer:

C) universal life insurance

Explanation:

According to my research on different life insurance specifications, I can say that based on the information provided within the question Ann is considering buying a universal life insurance policy or UL. This is a policy in which the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. Which is what Ann seems to be investigating.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
One year ago, you invested $1,800. Today it is worth $1,924.62. What annually compounded rate of interest did you earn?
mina [271]

Answer:

6.92%

Explanation:

The computation of the annually compounded rate of interest is presented below:

Future value = Invested amount × (1 + rate)^number of years

where,

Invested amount = $1,800

Rate = ?

Number of years = 1 year

The future value = $1,924.62

So, the rate is

$1,924.62 = $1,800 × (1 + rate)^1

After solving this, the rate is 6.92%

5 0
3 years ago
Certain real options allow companies to change capacity output in response to changing market conditions. True or False: The pre
docker41 [41]

Answer:

True

Explanation:

Real options include basically the option to get involved in projects involving real assets, as like building, land, machinery that is tangible assets or there is an option to choose securities.

These options provide for the growth of company by increasing their capacity to produce and that the company shall grow with the aim of producing and doing the business with more capacity to generate revenue.

8 0
4 years ago
Silver fire electric inc. , a u. s. -based company, has productive activities in more than two countries. Silver fire electric i
telo118 [61]

Silver Fire Electric Inc is a multinational enterprise.

A multinational enterprise, abbreviated as MNE and every so often also known as multinational corporation (MNC), just multinational or international corporation, is an employer generating items or delivering offerings in more than one country.

A multinational business enterprise is a corporate employer that owns and controls the manufacturing of goods or offerings in as a minimum one united states apart from its domestic united states.

Multinational corporations assist to create employment possibilities and international. Inward investments with the aid of MNCs construct a great deal-needed overseas currency for developing and growing economies. they also generate employment possibilities and assist enhance the expectation of what's possible in lesser advanced countries.

Learn more about Multinational corporations here brainly.com/question/494475

#SPJ4

6 0
2 years ago
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