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ludmilkaskok [199]
3 years ago
14

P is self-employed and owns an individual disability income policy. he becomes totally disabled on june 1 and receives $2,000 a

month for the next 10 months. how much of this income is subject to federal income tax?
Business
1 answer:
klemol [59]3 years ago
6 0
The benefits received from an individual disability insurance policy is not subject to federal income tax.

From what I've read in various online articles, <span>individual disability income insurance benefits are tax free because you have already paid for tax. The premiums you pay are from after-tax dollars. This means that taxes required on insurance disability benefits have already been paid prior to the benefits given. </span>
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It includes 3 most important costs: uncooked substances, direct labor, and overhead. Those charges can be fixed (maximum overhead) or variable (uncooked substances and hard work). The whole product value formula is general Product price = fee of raw substances + price of Direct exertions + price of Overhead.

Blanketed inside the production fee are (1) the fee of uncooked materials, (2) the fee of direct labor, and (3) the cost of overhead. Raw substances and hard work costs are frequently variable, even as the overhead expenses are in the main fixed.

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4 0
2 years ago
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