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Mark is a mamied taxpayer with a dependent 4 yeat okt daughter His employer offers a cafeteria plan under which he can choose to receive cash or, alternatively, choose from certain tinge ber 'fits These benefits nclude health insurance that costs $11 and Child ca e that costs S2 400 Assume Mark n the 28% ta acket Read the tequirements Requirement a. How much income tax wil Mark save if he chooses to participate in the employer's health insurance plan? Assume that he does not have sufficient medical expenses to itemize his deductions Br participating nthe plan, Mark would save $ Requirement b. Would you recommend that Mark participate in the employer's health insurance plan if his wife's employer already provides comparable health insurance coverage the family? A. No The tax savings would never exceed the cost of a second medical insurance coverage OB. Mark cannot participate in the employer's health insurance plan if the family already receives comparable health insurance coverage from his wife's employer OC. Probably not Although there would stile be a tax savings that is not sufficient reason to spend $11,500 on duplicate medical insurance coverage O D. Yes Having more than one health insurance coverage per family always creates an overall tax savings for the taxpayer. Requirement c. Would you recommend that Mark participate in the employer-provided chid care option if he has the alternative option of claiming a child care credit of $480? Participation in the employer provided child care option would result in a This amount is

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