Michael participates in the group insurance plan offered by his employer. He contributes $162 through payroll...
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Michael participates in the group insurance plan offered by his employer. He contributes $162 through payroll deduction. His tax rate is 45%. The annual premium for $45,000 of life insurance is $540, of which the employer pays 70 % ( i.e... $378). The employer adds a taxable benefit to Michael's annual income. On his death, what amount will Michael's estate receive?
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To calculate the amount Michael s estate will receive upon his death we need to consider the followi View the full answer
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 20142015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date:
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