Wild Bill’s Bowling Alley provides a group disability income policy to its employees. Employees pay a portion of the premiums. Which of the following is true?

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Wild Bill’s Bowling Alley provides a group disability income policy to its employees. Employees pay a portion of the premiums. Which of the following is true?

a. Premiums are completely tax-deductible for Wild Bill and all employees.

b. The portion of premiums paid by Wild Bill is not tax-deductible.

c. Benefits are taxable to employees based on the portion of premiums paid by Wild Bill.

d. Benefits are never taxable.

Answer: c. Benefits are taxable to employees based on the portion of premiums paid by Wild Bill.

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