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blondinia [14]
4 years ago
13

Faldo, Inc., provides medical coverage to employees through a self-insured plan. Nick, the president of Faldo, receives $3,400 i

n medical expense reimbursements from the plan during the current year. What are the tax consequences to Nick under the following circumstances? a. All employees are fully covered by the plan. If all employees are covered by the plan, it is . As such, payments made to employees from self-insured medical reimbursement plans are from the employee's income. So, Nick's $3,400 payment is in his gross income. b. All employees are covered by the plan. However, only Faldo's executive officers are fully reimbursed for all expenses. All other employees are limited to a maximum reimbursement of $1,000 per year. As reimbursements are in favor of highly compensated employees, the rei
Business
1 answer:
Marina CMI [18]4 years ago
5 0

Answer:

a. All employees are fully covered by the plan.

Since all the company's employees are covered by the health plan in a similar way, then reimbursements are excluded from gross income. The plan treats all the employees int he same way, so the benefits are the same for everyone, which means that it is company perk and it doesn't discriminate.

b. All employees are covered by the plan. However, only Faldo's executive officers are fully reimbursed for all expenses. All other employees are limited to a maximum reimbursement of $1,000 per year.

Since the health plan discriminates between normal employees and executives, the additional payments made to Nick for being president of the company will be considered as part of his gross income. In this case, the first $1,000 is not included, but the rest, $2,400, must be considered as part of his income.

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Initiatives intended to improve an organization's positive impact on society and the natural environment are called:
ikadub [295]

Green marketing initiatives are intended to improve an organization's positive impact on society and the natural environment.

 

To add, green marketing<span> <span>products that are presumed to be environmentally safe. It incorporates a broad range of activities, including product modification, changes to the production process, [sustainable packaging], as well as modifying advertising.</span></span>

6 0
3 years ago
your experience indicates that offering a discount in your email increases responses by 75% year last email without a discount y
HACTEHA [7]

Answer:

<u>The number of responses if a discount is offered would be 33,250</u>

Explanation:

1. Let's review the information given to us to answer the question correctly:

Number of responses you had without offering discount = 19,000

Percentage of increase if you offer a discount = 75%

2. If you mail the same size list and offer discount how many responses would you expect?​

Number of responses if a discount is offered = Number of responses you had without offering discount * (1 + 0.75)

Replacing with the real values, we have:

Number of responses if a discount is offered = 19,000 * 1.75

Number of responses if a discount is offered = 33,250

<u>The number of responses if a discount is offered would be 33,250</u>

3 0
4 years ago
if my movie starts at 11:26 am but it takes 48 minutes to get there what time will it be when I get there
MrRissso [65]

Answer:

12:34

Explanation:

It will be 12:34 if you leave at 11:26

3 0
3 years ago
Read 2 more answers
The "sticky wage" theory states that …
Umnica [9.8K]

Answer:

c. wages may stay at above-equilibrium levels for an extended period of time, thus keeping unemployment high.

Explanation:

Sticky wage theory -

According to this theory , the payment of the employees have a slow response for the change in the performance of the company or the economy .

From this theory , as the unemployment increases ,  the wages of the employed candidates tends to remain same or increases very slowly due to to decrease in the demand of the labor .

In this case , the wages are sticky - down , as they move up easily but get down with difficulty .

4 0
3 years ago
Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied
Flura [38]

Answer:

<u>c. $2,018.00</u>

Explanation:

Lower of cost or market is the inventory valuation method which requires to record the inventory at a value lower of

  • Initial cost of inventory ( Manufacturing cost or Purchasing cost )
  • Market value of the Inventory ( Net realizable value of the market )

Product__Quantity__Cost per unit__Market per unit___ Lower ____Value

Jelly _____150 ______$2.00 ______2.15___________ $2.00____ $300

Jam _____ 370 _____ $2.65 ______2.50 __________ $2.50 ____ $925

Marmalade 260 _____ $3.10 ______3.05  __________ $3.05 ____ $793

Total Value ___________________________________________<u>$2,018</u>

6 0
3 years ago
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