Rowan M. is a sales employee of Carefree Pools and Spas, Inc. In 2022, he was issued
Question:
Rowan M. is a sales employee of Carefree Pools and Spas, Inc. In 2022, he was issued a company car with a fair market value of $35,000 and drove a total of 22,000 miles; used the car for 2,000 miles for personal use; and the employer paid for fuel, charging Rowan 5.5 cents per mile. Under the lease-value rule, what is the amount that must be added to Rowan’s gross pay for 2022?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
Question Posted: