Term life insurance is a type of insurance policy that is limited to the life of the person for whom the policy was purchased.
Indicate whether the statement is true or false
Q. 2If a company contributes 55 to each employee's monthly healthcare insurance premium and the annual individual premium is 1,980, then the individual monthly premium is 165.
Indicate whether the statement is true or false
Q. 3Name two ways a SUTA tax rate of 3 could be stored in a cell in Excel to be used in calculations.
Q. 4The assessed value of a property is in Cell B8 of a spreadsheet and the tax rate per 100 of assessed value is in Cell C6. What formula could be entered in Cell F8 to calculate the tax due? Use an absolute cell reference.
Q. 5Jeff and Kathy O'Connor file a 1040 jointly. Jeff earned 39,000 and Kathy earned 13,700 working part time. The O'Connors have four children. Jeff contributed 3,500 to his IRA. They had 5,200 in medical and dental expenses. They paid 4,390 in real estate taxes, 7,260 in mortgage interest, and made 1,500 in charitable contributions. Together they had 1,825 withheld for income tax during the year. Using a tax table, how much additional tax do they owe or what is their refund?
Q. 6Pyuish and Vi Kashia file a 1040 jointly. Pyuish earned 37,570 and Vi earned 41,230. The Kashias have three children. Both Pyuish and Vi contributed 2,000 to their IRAs. They had 3,129 in medical and dental expenses. They paid 2,670 in real estate taxes, 1,220 in student loan interest, 4,890 in mortgage interest, and made 3,000 in charitable contributions. What is their taxable income?
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