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Pete is the owner of Blenheim News Tribune Inc, a company responsible for producing the...

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Pete is the owner of Blenheim News Tribune Inc, a company responsible for producing the local newspaper. He has owned the family-run business for 30 years, and he currently employs 10 people. Peter wants to offer a group benefits plan to his staff, so he meets with Daphne, a licensed insurance agent to go over some options. He would be willing to cover 75% of each employee’s required premium and ask that each employee be responsible for their remaining 25%.

Based on the information provided, which statement is true regarding Blenheim News Tribune Inc's group insurance premiums?

A.

Since Peter does not want to pay the entire premium, Blenheim News Tribune Inc is unable to claim any paid premiums as a business expense.

B.

All premiums paid by Blenheim News Tribune Inc are eligible to be deducted as a business expense.

C.

The premiums paid by Blenheim News Tribune Inc are not considered a taxable benefit for the employees.

D.

The premiums paid by an employee are a deductible expense to the employee.

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