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McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
Edition 3ISBN: 978-0077328368McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
Edition 3ISBN: 978-0077328368 Exercise 35
JDD Corporation provides the following benefits to its employee, Ahmed (age 47):
• Salary $300,000
• Health insurance:$10,000
• Dental insurance:$2,000
• Life insurance:$3,000
• Dependent care:$5,000
• Professional dues:$500
• Personal use of company jet:$200,000
Assume the life insurance is a group-term life insurance policy that provides $200,000 of coverage for Ahmed.Assuming Ahmed is subject to a marginal tax rate of 30 percent, what is his after-tax benefit of receiving each of these benefits (ignoring FICA taxes)
• Salary $300,000
• Health insurance:$10,000
• Dental insurance:$2,000
• Life insurance:$3,000
• Dependent care:$5,000
• Professional dues:$500
• Personal use of company jet:$200,000
Assume the life insurance is a group-term life insurance policy that provides $200,000 of coverage for Ahmed.Assuming Ahmed is subject to a marginal tax rate of 30 percent, what is his after-tax benefit of receiving each of these benefits (ignoring FICA taxes)
Explanation
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After-tax cost
The after-tax cost of sa...
McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
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