John Nilson is an employee of a high-end furniture store. During the current year, John receives a number of benefits from his employer. Describe the tax consequences for John that result from receiving each of the following benefits. A 35 percent discount on merchandise with a total value of $10,000. Reimbursement of $2,000 in tuition fees for a course in creative writing. Business clothing with a value of $8,500 to be worn during working hours. (John's employer felt he needed a better image in dealing with clients.) . A set of china on the occasion of John's wedding anniversary costing $450, including taxes. A private health care plan for John and his family. The employer pays an annual pre-minimum of $780 for this plan

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1 35 Percent Discount on Merchandise John will be taxed on the value of the discount he receives whi... View the full answer