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kvasek [131]
3 years ago
9

Frances McNale is an employee who drives a 2019 Ford C-Max with a fair-market value of $29,500. The lease value is $7,750, accor

ding to Publication 15-b. The car was available for 150 days during the year, and she reported that 6,500 of the 27,850 miles were driven for personal purposes. The company pays for all fuel and is charged back to Frances at $0.055 per mile. What is the amount of the company-car fringe benefit that will appear on Frances's W-2, using the lease-value rule? (Do not round intermediate calculations, only round final answer to two decimal points.)
Business
1 answer:
stich3 [128]3 years ago
4 0

Answer:

$1,100.86 ≈ $1,101

Explanation:

Prorated annual lease value per publication 15-b  = $7,750 x (150 / 365) = $3,185

McNale's personal use lease value = $3,185 x (6,500 / 27,850) = $743.36

Personal use fuel: 6,500 miles x $0.055 per mile = $357.50

McNale's total personal use taxable income: $743.36 + $357.50  = $1,100.86

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Physical capital differs from raw materials in the sense that raw materials A. have a longer useful life in production B. are co
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D. are used up in production

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3 years ago
Stacy, a self-employed accountant, currently earns $100,000 annually. Stacy has been able to save 18% of her annual Schedule C n
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Wage Replacement Ratio = $53,000 / $100,000 = 53%

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Total Mortgages = $1,500 x 12 = $18,000

                                           Dollar Value               Percentage

Salary                                       $100,000                             100%

Less: Self-Employment Taxes (11,000)                              (11%)

Less: Savings                                 (18,000)                              (18%)

Less: Mortgage Payments         (18,000)                              (18%)

                                               $ 53,000                               53%

Wage Replacement Ratio = $53,000 / $100,000 = 53%

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3 years ago
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Jason appreciated that the director took time to conduct a realistic job preview.

<h3>What is Realistic job preview?</h3>
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  • Realistic job previews should give applicants a comprehensive overview of the duties they can anticipate carrying out when working for that particular business. Descriptions may cover the work atmosphere, goals, and company policies, among other things (rules, restrictions).
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To learn more about realistic job preview with the given link

brainly.com/question/14839721

#SPJ4

Question:

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