Family Support Act Of 1988

Definition of "Family support act of 1988"

Elena Kemper  real estate agent

Written by

Elena Kemper elite badge icon

Esslinger-Wooten-Maxwell, Inc.

Legislation that changed the tax treatment concerning child-care expenses so that an employee who has incurred child-care expenses greater than $4800 and who is participating in a company-sponsored dependent care assistance program is required to choose between the company plan and the child-care credit. The tax benefit gained by the employee from the child-care credit is reduced dollar for dollar to the extent that the company plan is used to cover child-care expenses.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Payments awarded by a court in a liability suit. Money damages can be broken down into compensatory and punitive. Compensatory damages reimburse a plaintiff for expenses incurred for such ...

Product or service that does more harm than good to society, or endangers life or health. Society would probably be better off without such a product or service. ...

Arrangement by which a policy owner authorizes an insurance company to draft his checking account for premiums due on an insurance policy. The drafting is usually monthly, persistency of ...

Designation of a policy's death benefit or its cash surrender value to a creditor as security for a loan. If the loan is not repaid, the creditor receives the policy proceeds up to the ...

Organization that develops and administers educational materials and examinations for life insurance agents. A significant objective of the courses is sales technique. ...

Maximum amount of insurance coverage that an insurance company will underwrite in a particular geographic area. ...

Designation earned by passing 10 national examinations on subjects including mathematics of property and casualty insurance, actuarial science, insurance, accounting, and finance. ...

Determination that group plans offering legal services are limited to an annual tax-free benefit of $70 per employee; group plans may offer employer-provided educational assistance plans on ...

Same as term Original Age: insured's age at the date a term life insurance policy is issued. An original age or retroactive conversion option permits the insured to convert the term policy ...

Popular Insurance Questions