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
TiliK225 [7]
3 years ago
12

An employee has enrolled in his company's nonqualified deferred compensation plan. The benefit paid at the time of the employee'

s retirement is:_______.
A) taxable as ordinary income to the employee and can be taken as a deduction by the employer.
B) taxable as ordinary income to the employee with no benefit allowed to the employer.
Business
1 answer:
OLga [1]3 years ago
4 0

Answer:

A) taxable as ordinary income to the employee and can be taken as a deduction by the employer.

Explanation:

When an employee defers to receive the compensation plan he gets the benefit of lower tax bracket each year, ultimately decreasing his tax liability.

Further when he receives the complete amount his income stands taxable. Accordingly at that time ordinary tax rates as per FICA are applicable.

On the employers part it is only deductible when the employee includes it in the income of the year, and pays tax on such compensation received.

Thus, when he receives it as compensation on retirement it is normally taxable at ordinary rates to the employee and deduction can be claimed by the employer.

You might be interested in
The supply curve for oil shows:
12345 [234]
Supply of oil at different prices of other goods.
4 0
3 years ago
List at least 6 things your credit card company must clearly disclose to consumers.
never [62]

It is important to review the credit card disclosure for information on APRs, Penalties, Grace periods, Minimum financing charges, Calculation methodologies, and Fees.

An explanation of all the fees, charges, interest rates, and conditions that a consumer can encounter when using the credit card is contained in a credit card disclosure. The legislation requires disclosure of this information by organizations that provide credit cards. The disclosures on credit cards offer clear information about costs and charges. They also encourage rivalry. To allow consumers to evaluate credit cards more effectively, it is legally necessary of all credit card companies to give the same price information. They can pick the one that better serves their tastes in terms of price.

The interest rate that a client will pay on outstanding balances is the most obvious example of a cost listed on a credit card disclosure. Basic elements like the monthly payment deadlines will also be covered in the disclosure.

Learn more about Credit Card here:

brainly.com/question/28800758

#SPJ4

8 0
1 year ago
One of the best ways to overcome fear is to know what happens in a typical interview
docker41 [41]

Answer:true

Explanation:

8 0
3 years ago
During March, the production department of a process operations system completed and transferred to finished goods 25,000 units
djverab [1.8K]

Answer:

D. 165,000 materials; 144,000 conversion.

Explanation:

The concept of equivalent units measures the number of units in terms of percentage completion in the inputs introduced to outputs.

Calculation of  the number of equivalent units with respect to both materials and conversion respectively for March.

<u>Materials</u>

Units Completed and Transferred (135,000 × 100%) = 135,000

Units in Ending Work in Process (30,000 × 100%)     =  30,000

Total Equivalent units of Production                           = 165,000

<u>Materials</u>

Units Completed and Transferred (135,000 × 100%) = 135,000

Units in Ending Work in Process (30,000 × 30%)      =     9,000

Total Equivalent units of Production                           = 144,000

Conclusion :

The equivalent units of production are 165,000 materials; 144,000 conversion.

5 0
3 years ago
Read 2 more answers
There are 3 things to consider to help you gather the information needed: target you audience, determine the purpose and stand o
fomenos

Answer:

True

Explanation:

I'm 50% sure :)

8 0
2 years ago
Other questions:
  • Which of the following is NOT a special power if the senate?
    7·1 answer
  • Economists differ in their views of the role of the government in promoting economic growth. at the very least, the government s
    9·1 answer
  • The activity that's probably the most important indicator of financial health is the net cash flow from _______ activities
    10·2 answers
  • Assume the existence of a BankAccount class with a method, getAvailable that returns the amount of available funds in the accoun
    7·1 answer
  • Santa claus enterprises has 87,000 shares of common stock outstanding at a current price of $39 a share. the firm also has two b
    9·1 answer
  • Please Help!
    13·1 answer
  • Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorn
    6·1 answer
  • Value:
    11·1 answer
  • 4. Suppose an 802.11b station is configured to always reserve the channel with the RTS/CTS sequence. Suppose this station sudden
    10·1 answer
  • which of these line items appears on both the statement of stockholders' equity and the balance sheet?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!