In applying the $1 million limit on deducting executive compensation, what corporations are subject to the deduction limit? What executives are covered? What compensation is included in the limit?
What will be an ideal response?
The $1 million limit on deducting the compensation of a covered employee applies to publicly traded corporations. Covered employees include the principal (or chief) executive officer, the principal (or chief) financial officer, and the three other most highly compensated officers. The limitation applies to all compensation for services performed by a covered employee, including commissions and performance-based compensation. However, the limitation does not apply to retirement plan contributions or tax-free employer provided benefits.
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A. Audit Data Standards (ADS). B. Online Analytical Processing (OLAP). C. Extract, Transform & Load (ETL). D. Audit Control Language (ACL).
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What is the purpose of stop-loss insurance that is used with self-insured group medical expense plans?
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