Category: Uncategorized

Which of the following fringe benefits is taxable to the recipient?

Bill Brown, age 51, is planning to retire in 5 years and withdraw funds from his tax deferred annuity. Bill can make this withdrawal, but he must pay a 10% penalty for early withdrawal.

The IRS has limited corporate deductions for payments under golden parachute arrangements; however, these limits do not apply to a closely held corporation.

Most major medical plans cover routine doctor visits.

Parachute rules apply to payments from both S and C corporations.

Which of the following is (are) true?

George Flint was transferred to Chicago three years ago. When he left Detroit, he sold his home and put some of the money in a new Roth IRA. He and his wife, Wilma, have been renting a home for the past 3 years. Recently, the homeowner decided to sell. George is interested in buying the home. George can make a penalty-free withdrawal from his Roth IRA to help complete the purchase.

Premiums for commercial health insurance contracts include all of the following except

Capital needs at death can have a significant impact in any planning scenario. Which of the following is a reason to include this area when doing retirement planning?

In selecting a managed care plan, Tipton Enterprises wanted to be certain that decisions to perform a medical or surgical procedure are reviewed by qualified medical providers and approved before being completed. The health care management tool(s) that Tipton should be sure is (are) included in a managed care contract is (are)