Examlex
What is communication and what is its importance?
Simplified Method
An IRS-approved strategy for calculating the taxable portion of annuity payments, primarily used to simplify tax reporting.
Taxable Income
The portion of one's income that is subject to taxation after all deductions, exemptions, and adjustments have been applied.
Single Life Annuity
An annuity that provides payments for the lifetime of the annuitant only, ceasing upon their death.
Annuity Contract
A financial product issued by an insurance company that offers fixed or variable payments to an individual, typically beginning at retirement.
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