Kevin is an employee of One Hour Dry Cleaners, Inc. All employees of One Hour are eligible
Question:
Kevin is an employee of One Hour Dry Cleaners, Inc. All employees of One Hour are eligible for a 40 percent discount on their dry cleaning. During the year, Kevin paid $300 for cleaning that normally would have cost $500. Does Kevin have any taxable income as a result of this discount?
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Yes 100 is taxable The excludable discount ...View the full answer
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Related Book For 
Taxation For Decision Makers 2020
ISBN: 9781119562108
10th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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