Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2017, he was issued
Question:
Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2017, he was issued a company car with a fair market value of $35,000. He drove a total of 22,000 miles, used the car for 2,000 miles for personal use, and his employer paid for fuel, charging Malcolm five cents per mile. Under the lease value rule, what is the amount that must be added to Malcolm’s gross pay for 2017?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Payroll Accounting 2018
ISBN: 978-1259742514
4th edition
Authors: Jeanette Landin, Paulette Schirmer
Question Posted: