Miranda is employed at the Sweet Tooth Bakery. She drives an employer-provided van, transporting cakes and other sweets to customers throughout the city. She is permitted to take the van home in the evenings. In 2022, Miranda drove the truck 15,000 miles, of which 3,000, or 20%, were personal miles. The van has an annual lease value of $3,800. What is the amount included in Miranda’s taxable wages, subject to all payroll taxes?
Miranda is employed at the Sweet Tooth Bakery. She drives an employer-provided van, transporting cakes and other sweets to customers throughout the city. She is permitted to take the van home in the evenings. In 2022, Miranda drove the truck 15,000 miles, of which 3,000, or 20%, were personal miles. The van has an annual lease value of $3,800. What is the amount included in Miranda’s taxable wages, subject to all payroll taxes?
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 32P
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Miranda is employed at the Sweet Tooth Bakery. She drives an employer-provided van, transporting cakes and other sweets to customers throughout the city. She is permitted to take the van home in the evenings. In 2022, Miranda drove the truck 15,000 miles, of which 3,000, or 20%, were personal miles. The van has an annual lease value of $3,800. What is the amount included in Miranda’s taxable wages, subject to all payroll taxes?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT