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D Select One Answer Only from each of the following. No mark will be given if more than one answer is selected. For each
D Select One Answer Only from each of the following. No mark will be given if more than one answer is selected. For each of the following independent situations, indicate if the benefit from employment is Taxable (T) or Not Taxable (NT) from employment income, or if the amount paid by the employee is Deductible (D) or not Deductible (ND) from employment income. Description 1. Interest-free loan to assist employee to purchase a house as the result of a transfer 2. Company paying the fees for a financial planner for reviewing personal finances 3. Employee receives allowance of $1500/month for traveling expenses while on company business (no receipts provided) 4. Employee's expenses related to use of personal auto for employment purposes, when no allowance has been received from the employer 5. Employee pays for costs related to his or her spouse attending a convention 6. Trip to Mexico with retail value of $4,000 presented to employee for outstanding service to the company customers 7. Reimbursement of moving expenses for relocation by the company 8. $100 gift card for Mcdonald's Restaurant NT D ND
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