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Ordinary income taxation on the earnings withdrawn until reaching the owner's cost basis.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

You might be interested in
Briefly explain the term market economy​
Alchen [17]

Answer:

a market economy is a system where the laws of supply and demand direct the production of goods and services

6 0
2 years ago
Coolsavings.com is one of the largest on-line distributors of in-store coupons, sales announcements, and mail-in rebates offered
givi [52]

Answer:

a. social

Explanation:

Social trends are the trends and habits of the consumers which they tend to display any product. It includes the data and information about the behavior of the customers and their communication related to the product they purchase. The trends of the consumers help the business to flourish more effectively among the consumers.

8 0
3 years ago
In Ricci v. DeStefano, Ricci, a white firefighter, took and passed the City of New Haven firefighter's test, required of all app
vfiekz [6]

Answer:

The correct answer is A. In Ricci v. DeStefano, the Supreme Court ruled that an employer may not simply disregard a test based on unwanted results unless the test is shown to be biased or deficient.

Explanation:

Ricci v. DeStefano is a Supreme Court ruling of 2009, after a lawsuit by nineteen firefighters who claimed to have been discriminated against in terms of career development.  They denounced that they had been discriminated after having passed the admission tests and still had not been promoted, since no African-American candidate had passed the tests. They also denounced that they had not been promoted because the Fire Department did not want to promote a group of new recruits without including within it any member of racial minorities.

Finally, the Supreme Court established that said procedure violated Title VII of the Civil Rights Act of 1964, since in the case equal access to employment was not guaranteed (in this case, favoring minorities over white firefighters), for set different demands for purely racial reasons.

7 0
3 years ago
Staffing plan that lists the roles and the proposed reporting structure that are required for the project. Typically, a project
Andru [333]

Answer: Project manager

Explanation:

A project manager is a qualified person in the field of project management. Project managers are responsible for the planning, directing, procurement and the execution of a project. Project managers are the first point of contact when issues arise from various departments in the organization before the problem reaches higher authorities.

The project manager is responsible for project management. The project manager does not really take part directly in the things done to produce the end result, but makes sure there is progress and fulfillment of the organizational goals.

4 0
3 years ago
Read 2 more answers
Yuki is part of a sales team. He effectively coordinates his tasks with others in the team and willingly contributes to their ef
bulgar [2K]

Answer:

d.Level 2

Explanation:

Based on the information provided within the question it can be said that Yuki is in the level 2 of the level-5 leadership pyramid. This level emphasizes an individuals contributions towards the other members of a group and adding their individual capabilities to the group in order to help the group achieve their overall goals. Which is exactly what Yuki is doing as described in the question.

5 0
3 years ago
Other questions:
  • A security firm is offered​ $80,000 in one year for providing cctv coverage of a property. the cost of providing this coverage t
    10·1 answer
  • Complete the following sentence.
    12·1 answer
  • Sue plans to mix peppermints worth $1.20 per lb with chocolates worth $2.40 per lb to get a 40 lb mix that is worth $1.65 per lb
    7·1 answer
  • Phytoplankton feed on nutrients brought up by this type of deep cold water current
    11·1 answer
  • "Jim was called to active duty in the military. Knowing that he would be out of the country for a year or more, he gave his sist
    11·2 answers
  • Samantha, a famous artist, has a contract with Alec to paint his portrait for $6,000. Samantha is very busy and wants to delegat
    13·1 answer
  • Which of the following is likely the lowest paid job listed?
    11·2 answers
  • Francine wants to become a school counselor. Which is the academic requirement for this career?
    15·2 answers
  • Most economists say a little inflation is healthy for an economy.
    14·1 answer
  • The following information is available for the year ended December 31: Beginning raw materials inventory $ 3,900 Raw materials p
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!