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JDD Corporation provides the following benefits to its employee, Ahmed (age 33): Salary $ 313,000 Health insurance 12,500 Dental insurance 4,200 Life insurance 5,100 Dependent
JDD Corporation provides the following benefits to its employee, Ahmed (age 33):
Salary | $ 313,000 |
---|---|
Health insurance | 12,500 |
Dental insurance | 4,200 |
Life insurance | 5,100 |
Dependent care | 3,700 |
Professional dues | 1,430 |
Personal use of company jet | 217,000 |
The life insurance is a group-term life insurance policy that provides $218,000 of coverage for Ahmed. Assuming Ahmed is subject to a marginal tax rate of 32 percent, what is his after-tax benefit of receiving each of these benefits? (Use EXHIBIT 12-8.)
Note: Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar.
Description | amount |
taxable total | $0 |
Marginal tax rate | ___% |
income tax on benefit | |
After-tax benefit of taxable items | |
nontaxable benefits | |
nontaxable total | |
After-tax benefit of salary and benefits |
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