Which of the following is an example of a completely non-taxable fringe benefit for Lori, an employee

Question:

Which of the following is an example of a completely non-taxable fringe benefit for Lori, an employee of WORK, Inc.? WORK owns a division that operates an airline and another division that owns vacation resorts. Lori works for the airline division.

a. Group term life insurance of $200,000

b. Reimbursement of $225 for her subscription to Air Travel Business Journal

c. Free lodging at a resort in Florida when the resort had an occupancy rate of 65%

d. Free use of a company-owned vehicle for three weeks while her car was being repaired

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Taxation For Individuals A Practical Approach 2024

ISBN: 9781119744191

1st Edition

Authors: Gregory A Carnes, Suzanne Youngberg

See More Books

Question Posted: Apr 17, 2024 04:00 AM

See More Questions

1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
MCQ questions: 1. An increase in oil prices, such as the oil shocks in the 70s, lead to _______ thereby causing ________ a movement along the AS curve; cost-push inflation a leftward shift in the AS...
The following questions deal with the topics of internal controls and audit strategies. Required: Select and justify the audit strategy you would choose in each of the following situations. Comment...
Stephen transferred $15,000 to an irrevocable trust for Graham. The trustee has the discretion to distribute income or corpus for Graham's benefit but is required to distribute all assets to Graham...
Suppose your browser console lists a single error, which you find and fix. Why is it important to save your work and reload the page in the browser?
Suppose that a stock will pay a dividend of amount $D$ at time $\tau$. We wish to determine the price of a European call option on this stock using the lattice method. Accordingly, the time...
Security Brokers Inc. specializes in underwriting new issues by small firms. On a recent offering of Barenbaum Inc., the terms were as follows: Price to public .. $7.50 per share Number of shares 3...
A meteorologist is 3.8 km from a thunderstorm when she sees a lightning bolt emerge from the storm. In how many seconds will she hear thunder after seeing the lightning? Assume air temperatur = 20C...
Vet, Inc. provides an award to its employees who have achieved consecutive years of service of 5, 10, 15, 20, and 25 years through a qualified plan. All awards are given at the company picnic in...
Which of the following needs to be included in income by an employee? a. Tip income b. Employee discount of 20% c. Health insurance premiums paid by employer d. Soft drinks and coffee provided by the...
For the month of April, a checking account has a balance of $523 for 24 days, $2415 for 2 days, and $250 for 4 days. What is the accounts mean daily balance for April? Find the weighted mean of the...
Suppose that on December 31 of the current year, Jones Company reported long-term investments of $20,000. After careful evaluation, Jones concluded that the market value of the investments had...
Define your personal Gross National Product(GNP), by forcasting your expenses for the year. Categorize each of your expenses into one of 3 categories, Consumption, Savings, or Government Spending...
ABC Company had the following transactions during July. 1-Jul Beginning inventory 100 units $80 each 2-Jul Purchase 120 units $82 each 10-Jul Sale 90 units 13-Jul Sale 50 units 15-Jul Purchase 50...
An 20-year annuity-immediate has monthly payments of $400 and a present value of $36000 Find the effective annual interest rate.
Bayside Fishing Supply Co . is acquiring Fishing Lure Specialists for $ 2 5 , 2 5 0 in cash. Bayside Fishing Supply C 0 . has 2 , 3 5 0 shares outstanding at a market price per share of $ 3 9 ....
Find a formula for the stream function for flow of a doublet of strength λ at a distance a from a wall, as in Fig. C8.7 (a) Sketch the streamlines. (b) Are there any stagnation points? (c)...
If |62x|>9, which of the following is a possible value of x? A. 2 B. 1 C. 0 D. 4 E. 7
Constructing Balance Sheets and Determining Income Following is balance sheet information for Lynch Services at the end of Year 2 (the most recent year) and Year 1. December 31,Year 2 December...
Consider the following information. Beginning inventory at retail (base year) Ending inventory at retail $ 120,000 $ 168,000 Beginning cost-to-retail percentage 40% Current-year cost-to-retail...
(b) Given the formula below. Tn+1=n+n - T . Ti = 1 (i) Find the value of the next four terms after Ti [4 marks] (ii) Determine whether the answer in Question 2(b)(i) is recursive or explicit. [1 mark]

Which of the following is an example of a completely non-taxable fringe benefit for Lori, an employee

Question:

Step by Step Answer:

The correct answer is Reimbursement of 225 for her subscription to Air Travel Bus...View the full answer

Fundamentals Of Taxation For Individuals A Practical Approach 2024

Students also viewed these Business questions