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8 Cards in this Set
- Front
- Back
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Social security Taxation
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funded through a payroll tax
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Worker compensation benefits
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benefits are paid tot he employee or surviving spouse and children -- TAX FREE
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Health and Accident Insurance
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not usually tax deductible
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Long term care insurance
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taxed the same as an accident and health insurance policy
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group health insurance
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tax deductible
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group disability insurance
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disability premiums are tax deductible for the emplyer as a busness expense and disabiity payments are taxable
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individual disability insurance
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premiums are paid with after tax dollars and benefits are received tax free by the ED
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Cafeteria plan
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defined under section 125 of IRS code
** plans maintained by an employer that allow each participant to select among cash and one or more qualified non taxable benefits |
