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Jimmy works for a restaurant that provides free meals for every shift he works. The restaurant prices the cost of those meals at $4.50 per
Jimmy works for a restaurant that provides free meals for every shift he works. The restaurant prices the cost of those meals at $4.50 per meal for taxable benefit purposes. Jimmy worked 9 shifts in the current pay period. How much would be added to his income for tax calculations?
2. Amelia works at BCIT and is provided a parking spot on campus. The Fair Market Value of this spot is $175 per month. Amelia is paid bi-weekly. How much should be added to her gross pay on each pay to correctly assess the taxable benefit?
3. Megan receives a cell phone allowance of $50 per month, a car allowance of $300 per month, and the company pays all of her meals when she is working at client locations, but Megan must provide receipts for these. The receipts usually average $150 per month. Megan is paid bi-weekly. How much needs to be added to her gross pay each pay period?
2. Amelia works at BCIT and is provided a parking spot on campus. The Fair Market Value of this spot is $175 per month. Amelia is paid bi-weekly. How much should be added to her gross pay on each pay to correctly assess the taxable benefit?
3. Megan receives a cell phone allowance of $50 per month, a car allowance of $300 per month, and the company pays all of her meals when she is working at client locations, but Megan must provide receipts for these. The receipts usually average $150 per month. Megan is paid bi-weekly. How much needs to be added to her gross pay each pay period?
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