Answered: 1. Of the cafeteria plans listed, which…

1. Of the cafeteria plans listed, which is NOT a voluntary nontaxable deduction? Answer: A. Medicare B. Group-term life insurance C. Medical care reimbursements D. Adoption assistance

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter10: Deductions And Losses: Certain Itemized Deductions

Section: Chapter Questions

Problem 1BCRQ

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Question

1. Of the cafeteria plans listed, which is NOT a voluntary nontaxable deduction?

Answer:

Medicare

Group-term life insurance

Medical care reimbursements

D.	Adoption assistance

2. Prior to the current period, Sol Berenson had earnings subject to FICA tax of $138,600. This week, Sol has gross earnings of $4,900, so he will have $_____ withheld in FICA tax for this period.

3. Barring any special circumstances, over what age is an individual eligible to receive Medicare benefits?

Answer:

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