Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2018, he was issued
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Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2018, 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 5.5 cents per mile. Under the lease value rule, what is the amount that must be added to Malcolm’s gross pay for 2018?
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Related Book For
Payroll Accounting 2019
ISBN: 978-1259917073
5th edition
Authors: Jeanette Landin, Paulette Schirmer
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