Jim and Tim are partners in JT Enterprises. The partnership contributes $1,000 annually to each partner account to cover a $12,000 deductible health policy. Jim and Tim have asked you to explain the consequences of treating HSA contributions as guaranteed payments. You tell Jim and Tim if they do so, guaranteed payments

Wally Fishbein made contributions to an HSA while an employee of Fishing Expeditions. Wally retired this year at age 65 and is now enrolled in Medicare. Which of the following is (are) true for Wally?

Generally, sick pay or short-term disability payments do not extend beyond about _____ months.

Walburg Pharmaceuticals is installing a cafeteria plan and is concerned about meeting nondiscrimination requirements. Walburg needs to be sure that its plan

An employee cannot contribute to a profit sharing plan.

Defined contribution plans typically provide the maximum possible proportionate benefits for key employees when key employees are older than rank and file employees.

Which of the following benefits normally may not be provided in a cafeteria plan under the Code?(I)long-term care insurance(II)educational assistance under a plan governed by Section 127(III)dental insurance for dependents(IV)term insurance equal to 1½ times salary

An advantage of an employee stock purchase plan is that its value is directly related to employee performance.

Generally, sick pay or short-term disability payments do not extend beyond about _____ months.

Which of the following requirements must be met to have the possibility of both employer deductible premiums and non-taxation of employee disability benefits?(I)the benefit is based on permanent loss of use of a member or function of the body(II)the benefits are specifically paid from a cafeteria plan (III)the benefit is computed by reference to the nature of the injury and not to the period the employee is absent from work(IV)an FSA is used to pay for benefits