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I have 6 other questions posted as well please help! 4:39 PM Fri Oct 2 72% O Assignment Details To Do 1:14:04 Exit Which of
I have 6 other questions posted as well please help!
4:39 PM Fri Oct 2 72% O Assignment Details To Do 1:14:04 Exit Which of the following statements concerning Medical Savings Accounts (MSAs) and Health Savings Accounts (HSAs) is correct? MSA and HSA contributions are permitted to be claimed as a medical expense on the taxpayer's Schedule A (Itemized Deductions). Retired taxpayers enrolled in Medicare can use HSAs to generate tax benefits for out of pocket medical costs. > MSAs can be created by anyone who has a high deductible health insurance plan. Taxpayers who use MSAs and HSAs convert below the line deductions into above the line deductions. 2. Which of the following statements is correct regarding the taxation of fringe benefits? 1. The value of the fringe benefit is included in the employee's gross income unless the Code specifically excludes it from taxation. 2. The value of the fringe benefit is excluded from the employee's gross income unless the Code specifies otherwise. 3. The value of the fringe benefit is taxable if the benefit is only provided to employees owning more than 5% of the company and the fringe benefit has a nondiscrimination requirement. 4. The value of the fringe benefit is always taxable if someone other than the employee (e.g., the employee's spouse) benefits from the fringe benefit provided by the employer. 1 and 3. 1 and 2, 3 and 4. 2 and 4. Dashboard SEB Calendar To Do n Notifications MInboxStep by Step Solution
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