Match each statement with the correct term below.
-Cafeteria plan
A) An employee may exclude up to $5,000 annually of these employer-provided services.
B) If cash is received under this program, taxpayers are taxed on the amount of cash received.
C) A salary reduction plan that allows employees to pay for medical and child care costs with before-tax dollars.
D) A transfer of property without any profit motivation with an intention that includes affection, charity, and respect.
E) Payments made into an employee's account are not taxable in the current period; taxation is deferred until funds are withdrawn.
F) Employer provided benefit that may be excluded from income because the dollar amounts are too small for a reasonable accounting.
Correct Answer:
Verified
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