Shiloh is a sales representative for American Silk Mills who has a company car to visit customer
Question:
Shiloh is a sales representative for American Silk Mills who has a company car to visit customer sites. Shiloh drove 25,500 miles during 2022, of which 15 percent was reported as personal miles. Using the centsper- mile rule, what is the valuation of this benefit for 2022?
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To determine the valuation of this benefit we need to use the centspermile rule whi...View the full answer
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Related Book For 
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
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