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- Question 21: The income threshold for Additional Medicare Tax levied is based on the Answer: A. age of the employee В. O amount in the employee's Social Security account С. Social Security income threshold D. O employee's tax return filing statusWhich of the following, when provided by an employer, is a tax-deferred or tax-free benefit for the employee? a. Premiums for private health care plans providing extended health coverage beyond a public plan b. Financial counselling services not connected to re-employment or retirement c. Group term life insurance policy d. A $200 cash gift for the employee's weddingo D. provinc 1. Social Insurance Numbers beginning with a "9" o A. are issued to permanent residents but not Canadian citizens. B. has an expiry date which is the date of his/her quit or layoff. C. supposed to pay all statutory deductions. o D. all of the above d oncies who share an interest in the function
- 11- Explain the concept of vesting. -Under ERISA , if requested in writing , what information must the administrator of the pension fund supply to the participants ? -Under the Affordable Care Act , which employers are required to provide insurance coverage for all full - time employees and their dependents ?13-Under the Affordable Care Act , which employers are required to provide insurance coverage for all full - time employees and their dependents ?Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the insured. Which one (1) of the following benefits CANNOT be changed? Death and Funeral Benefits. Income Replacement Benefit. Caregiver Benefit for Catastrophic Injuries. Disability Benefit after Age 65.
- Melinda received sick pay from an employer-paid insurance policy in 2020. The sick pay will be Select one: O a. Nontaxable income O b. Deductible on Schedule A O C. Taxable income O d. An adjustment to income on Form 1040What is the maximum amount of qualified expenses that a taxpayer with one qualifying child can claim for the basis of the Form 2441 credit for dependent care for TY2023? a. $6,000 b. $5,000 c. $3,000 d. There is no limit to the expensesQuestion 19 Which of the following correctly describes defined benefit (DB) pension plans? A- A typical example of DB plan is 401(K) savings account B- Retirement benefits depend on how much money has accumulated in an individual's account. C- Employers never need to report a liability related to DB plans D- Retirement benefits are based on the plan benefit formula. O A O B
- Question 30: If code D (deferrals under a 401(k) plan) is entered on line 12a of Form W-2, what other box must be completed? Answer: А. O 10 (Dependent care benefits) В. O 11 (Nonqualified plans) С. 13 (Retirement Plan checkbox) D. O 14 (Other)Question 6: What is the earnings threshold over which an employee whose filing status is Married Filing Separately will be subject to the additional Medicare tax? Answer: А. O $117,000 В. O $125,000 С. O S200,000 D. O $250,000Employer contributions to employee health insurance must be: Multiple Choice O O Added to Federal taxable wages. Reported in Social Security wages. Reported in State taxable wages. Reported on the employee's Form W-2.