Comparing Taxes for Employee Benefits. Which of the following employee benefits has the greater value? Use the
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Comparing Taxes for Employee Benefits. Which of the following employee benefits has the greater value? Use the formula given in the Financial Literacy Calculations feature to compare these benefits.
(Assume a 28 percent tax rate.)
a. A nontaxable pension contribution of $4,300 or the use of a company car with a taxable value of $6,325.
b. A life insurance policy with a taxable value of $450 or a nontaxable increase in health insurance coverage valued at $340.
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