For each of the following independent situations, indicate if the benefit from employment is Taxable (T)...

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For each of the following independent situations, indicate if the benefit from employment is Taxable (T) or Not Taxable (NT) from ermployment income, or if the amount paid by the employee is Deductible (D) or not Deductible (ND) from employment income Description 1. Interest-hree loan to assist employee to purchase a house as the result of a transfer NT D. ND 2 Company paying the fees for a financial planner for reviewing personal finances 3 Employee receives allowance of $1500month for traVeing expenses while on company business (no receipts provided) 4 Employee's expenses related to une of personal auto for employment purposes, when no allowance hars been received from the employer 5 Employee pays for costs related to hes or her spouune attending a convention 6 Tnp to Mexco with retail value of $4,000 presented to employee for outstanding service to the company customers 7. Reimbursement of moving expenses tor relocation by the company & $100 gin card for Mcdonald's Restaurant B Renbusemont to employee lor tuton fees reluded to personal interest coune 10. Premiums for term kle insurance paid by employer For each of the following independent situations, indicate if the benefit from employment is Taxable (T) or Not Taxable (NT) from ermployment income, or if the amount paid by the employee is Deductible (D) or not Deductible (ND) from employment income Description 1. Interest-hree loan to assist employee to purchase a house as the result of a transfer NT D. ND 2 Company paying the fees for a financial planner for reviewing personal finances 3 Employee receives allowance of $1500month for traVeing expenses while on company business (no receipts provided) 4 Employee's expenses related to une of personal auto for employment purposes, when no allowance hars been received from the employer 5 Employee pays for costs related to hes or her spouune attending a convention 6 Tnp to Mexco with retail value of $4,000 presented to employee for outstanding service to the company customers 7. Reimbursement of moving expenses tor relocation by the company & $100 gin card for Mcdonald's Restaurant B Renbusemont to employee lor tuton fees reluded to personal interest coune 10. Premiums for term kle insurance paid by employer

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1 The benefit from employment is Not Tax able from employment income but the amount paid by the employee is Ded uct ible from employment income The benefit of an interest free loan to assist an employ... View the full answer