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Problem 12-42 (LO 12-1, LO 12-3) JDD Corporation provides the following to its employee, Ahmed (age 53): Salary Health insurance Dental insurance Life insurance Dependent
Problem 12-42 (LO 12-1, LO 12-3) JDD Corporation provides the following to its employee, Ahmed (age 53): Salary Health insurance Dental insurance Life insurance Dependent care Professional dues Personal use of company jet $3ee, eee 11,1ee 3,3ee 4,800 4,3ee 1,25e 284, eee Assume the life Insurance is a group-term life Insurance policy that provides $200,000 of coverage for Ahmed. (Use EXHIBIT 12-8.) Assuming Ahmed is subject to a marginal tax rate of 32 percent, what is his after-tax benefit of receiving each of these benefits? (Enter all amounts as positive values. Round your Intermediate computations and final answers to the nearest whole dollar.) Amount Description Taxable benefits Taxable total $ 996 Marginal tax rate Income tax on benefits After-tax benefit of taxable items Nontaxable benefits Nontaxable total $ O After-tax benefit of salary and benefits $ 0
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