JDD Corporation provides the following benefits to its employee, Ahmed (age 47) Salary .................................................. $300,000 Health insurance
Question:
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)?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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The aftertax benefit of Ahmeds salary and benefits is 370419 calc...View the full answer
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Aysha Ali
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Related Book For 
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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