Why are cafeteria plans helpful in the design of an employee benefit plan that provides nontaxable fringe
Question:
Why are cafeteria plans helpful in the design of an employee benefit plan that provides nontaxable fringe benefits?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
Many employees are not interested in certain tax favored ...View the full answer
Answered By
Sandhya Sharma
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
4.90+
119+ Reviews
214+ Question Solved
Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
Students also viewed these Business questions
-
In the design of an automobile radiator, an engineer has a choice of using either a brass-copper alloy casting or a plastic molding. Either material provides the same service. However, the...
-
The proposed definition of a liability is a "present economic obligation for which the entity is the obligor." These terms can be further expanded as follows (as taken from l>\SB Board meeting...
-
Both high-income and low-income employees are covered by cafeteria plans. Under such plans, all employees may select from a list of non-taxable fringe benefits or they may elect to receive cash in...
-
Cutler Manufacturing manufactures and distributes specialty piping used in the construction industry. Due to the recent contraction in the commercial construction market, the company has had...
-
The reaction shown is important in the industrial preparation of dichlorodimethylsilane for eventual conversion to silicone polymers. 2CH3Cl + Si (CH3)2SiCl2 Is carbon oxidized, or is it reduced in...
-
A rigid tank contains 2 kg of an ideal gas at 4 atm and 40oC. Now a valve is opened, and half of mass of the gas is allowed to escape. If the final pressure in the tank is 2.2 atm, the final...
-
Ali plc and Bhaskar plc both operate electrical stores throughout the UK. The financial statements of each business for the year ended 30 June 2016 are as follows: Ali plc paid a dividend of 135...
-
The manager of a car wash received a revised price list from the vendor who supplies soap, and a promise of a shorter lead time for deliveries. Formerly the lead time was four days, but now the...
-
10 8 6 4 21 10 -8 -6 -4 -4 -6 -8 -10 2 4 6 8 10 What is the slope of the graph? Leave your answer as a reduced fraction. Slope = Identify the y-intercept. Write as a coordinate. y-intercept = Write...
-
1. For a deep discounter, should price be the only element of the retailers strategy that is promoted? Explain your answer. 2. In advertising prices, does Walmart have to enact the same prices for...
-
Are partners and proprietors at a disadvantage with respect to fringe benefits? Explain.
-
Both high-income and low-income employees are covered by cafeteria plans. Under such plans, all employees may select from a list of non-taxable fringe benefits or they may elect to receive cash in...
-
Nitrogen flows through a converging-diverging nozzle designed to operate at a Mach number of 3.0. If it is subjected to an operating pressure ratio of 0.5 : (a) Determine the Mach number at the exit....
-
What is the difference between expenses and cash flow?
-
What the differences are between federal and state court jurisdiction?
-
Why do recurring revenue and commission-based firms frequently experience losses during periods of rapid sales growth?
-
Discuss the three major factors that affect where an entrepreneur is likely to find financing.
-
When a party may be compelled to defend an action in a particular court?
-
Foremost Company owns a royalty interest in an oil well. The contract stipulates that Foremost will receive royalty payments semiannually on January 31 and July 31. The January 31 payment will be for...
-
Consider a game of poker being played with a standard 52-card deck (four suits, each of which has 13 different denominations of cards). At a certain point in the game, six cards have been exposed. Of...
-
Most individuals use the calendar year as their tax year. What requirement, if any, in the tax law causes this?
-
Can the IRS require a taxpayer to change accounting methods?
-
Explain the purpose of the four-year method used in computing the tax resulting from a net adjustment due to a change in accounting methods.
-
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction of Units Per Unit Total...
-
Question Bl Martina Company is engaged in purchase and sales of leather products. The company adjusts its accounts monthly, closes its accounts annually on 31 December and adopts a perpetual...
-
Which of the following is necessary for a budget to be effective? Goals reflected in a budget should be challenging but attainable. Employees affected by a budget should help prepare it. Managers...
Study smarter with the SolutionInn App