Howard works in the hotel division of Resorts, Inc. Resorts, Inc. offered Howard a cafeteria plan with $12,000 of benefits. Howard placed $4,000 from the plan in his 401(k), paid for his graduate school tuition in the amount of $6,000, and kept the other $2,000 as cash. Calculate the amount Howard should include in his income

Answer rating: 100% (QA)

To calculate the amount Howard should include in his income we need to determine which portions of ... View the full answer