Questions from Federal Taxation


Q: What is the difference in the tax treatment of a medical insurance

What is the difference in the tax treatment of a medical insurance plan that is purchased from a third-party insurer and a self-insured medical reimbursement plan?

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Q: What is a Health savings account?

What is a Health savings account?

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Q: What is the difference between a qualified employee discount and a bargain

What is the difference between a qualified employee discount and a bargain purchase by an employee?

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Q: What is the difference between a cafeteria plan and a flexible benefits

What is the difference between a cafeteria plan and a flexible benefits (salary reduction) plan?

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Q: Why are workers' compensation payments treated differently from unemployment compensation payments for

Why are workers' compensation payments treated differently from unemployment compensation payments for tax purposes?

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Q: What is a personal physical injury for purposes of excluding damage payments

What is a personal physical injury for purposes of excluding damage payments received?

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Q: Are payments for loss of income taxable? Explain.

Are payments for loss of income taxable? Explain.

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Q: How is a tax credit different from a tax deduction?

How is a tax credit different from a tax deduction?

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Q: What is the purpose of the capital gain-and-loss

What is the purpose of the capital gain-and-loss netting procedure?

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Q: Discuss the difference in the tax treatment of payments received from an

Discuss the difference in the tax treatment of payments received from an employer-provided health and accident insurance policy and a health and accident insurance policy purchased by the taxpayer.

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