Pension contributions Study guides, Revision notes & Summaries

If ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends, what is its taxable income? A. $0 B. $25,000 C. $50,000 D. $100,000 - Answer-The net profits of a corporation are subject to federal income taxation. This tax is levied on corporate taxable income before payment of dividends to common and preferred shareholders. Thus, if ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends, its taxable income is still $100,000. Distribution ...

Broad view of Employee Benefits (Mod 1.1) - correct answer Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) - correct answer Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result from the employ...

AWMA Test Review 1 Questions with Correct Answers If ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends, what is its taxable income? A. $0 B. $25,000 C. $50,000 D. $100,000 - Answer-The net profits of a corporation are subject to federal income taxation. This tax is levied on corporate taxable income before payment of dividends to common and preferred shareholders. Thus, if ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends...

Life, Accident and Health Insurance Exam 2024 Questions Complete Solutions Qualified Plan - Answer - -approved by IRS for favorable tax treatment - tax deffered growth Qualified Plan Requirements - Answer - 1) Be in writing 2)provided for benefit of employee 3) must satisfy age and serive standards 4) cannot be discriminatory 5) contributions cannot exceed yearly maximus 6) must provide survivorship benefits 7) must meet miniumum vesting standards 8) cannot be top heavy Advantages of Q...

TVM with Excel Assignment When Yvonne was twelve, her grandfather gave her $5,000 to be used for college. Yvonne was a good student and dreamed of going to a good school so she invested the gift in a 10-year bank CD earning 7¼%. She received a generous scholarship and never needed to use the money from her grandfather. After graduating from college at age 22, she began working at a great job. Knowing the value of early investing, she began saving for retirement right away. When the CD mat...

DSST Human Resource Management Question and answers already passed 2023/2024core competencies - correct answer An integrated knowledge within an organization that sets it out from the competition. informal factors - correct answer Includes the social environment of the workplace and informal work groups. job description - correct answer A written description of the basic tasks, duties, minimum required experience, and responsibilities required of an employee holding a particular job. s...

Apparent Authority - correct answer -producer is exposed to telephone prospects on the insurer's behalf to arrange sales appointments Bud, age 68, whose income consists of his pension and Social Security benefits - correct answer -All of the following are eligible to make contributions (tax-deductible or otherwise) to a traditional IRA EXCEPT: Pete, age 19, who works part time delivering pizzas while attending school Derek, age 32, who is covered by his employer's 401(k) plan Lyndie, age...

Payroll Basic CHAPTER 7 QUIZ 20 Questions with Verified Answers REVENUE QUEBEC - CORRECT ANSWER Contributions to the Workforce Skills Development and Recognition Fund and the Commission des Normes Du Travail are collected by? SUBORDINATION IN THE PERFORMANCE OF WORK - CORRECT ANSWER The most important criterion used by Revenu Quebec in determining whether a worker is an employee or is self-employed in Quebec? IN RECEIPT OF RETIREMENT PENSION UNDER QUEBEC OR CPP, NOT IN RECEIPT OF DISABI...

Chapter 20: Retirement Plans, ERISA Issues, & Education Funding Exam 2023 Qualified Retirement Plans - ANSWER-- Contributions are Tax Deductible - Approved by IRS - Cannot Discriminate - Tax on Accumulation is deferred - All withdrawals taxed - Plan operates as a Trust 1) Keogh (HR-10) 2) 403(b) Plans 3) Defined Benefit Plan (Traditional Pension Plan) 4) Defined Contribution Plans - Money Purchase Pension Plan - Profit-Sharing Plan - 401(k) Plan Non-Qualified Plans -...

CEBS GBA Exam 1 Questions & Answers 2023/2024 Broad view of Employee Benefits (Mod 1.1) - ANSWER-Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) - ANSWER-Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benef...