If an Employer Claims a Business Deduction for Group Health

question 102

True/False

If an employer claims a business deduction for group health insurance premiums paid on behalf of his employees, the amount must be included in the employees' gross income.

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Definitions:

Supervises

To oversee and direct tasks, operations, or people to ensure objectives are met effectively and efficiently.

Trading of Securities

The act of buying, selling, or exchanging financial instruments such as stocks, bonds, and options in the financial markets.

Institutional Investors

Organizations that invest large sums of money into securities and assets, including mutual funds, pension funds, insurance companies, and endowments.

Mutual Funds

Investment vehicles made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and other assets.