Asked by
Maria Velez Romero
on Dec 11, 2024Verified
Which of the following is fully tax deductible (it is either subtracted or excluded from taxable income) under the current tax system of the United States?
A) Out-of-pocket medical expenses.
B) Healthcare insurance purchased through one's employer.
C) Healthcare insurance purchased directly by an individual or family.
D) All of the above.
Tax Deductible
Expenses that can be subtracted from gross income to reduce taxable income.
Taxable Income
Taxable income is the amount of an individual's or a corporation's income used to determine how much tax is owed to the government.
Healthcare Insurance
A type of insurance coverage that pays for medical and surgical expenses incurred by the insured, either reimbursing the payments made to healthcare providers or directly paying providers.
- Apprehend the influence of the U.S. tax infrastructure on the procurement and offering of health insurance.
Verified Answer
CC
Learning Objectives
- Apprehend the influence of the U.S. tax infrastructure on the procurement and offering of health insurance.