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Sally and bill are married and file joint returns. In 1010, Bill, an accountant, has a salary of $75,000

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6 Sally and bill are married and file joint returns. In 1010, Bill, an accountant, has a salary of $75,000, and Sally receives salary of $25,000 as an apartment manager. What are the tax consequences of the following benefits that Bill and Sally?s employers provide?;a. Bill receives a reimbursement of $5,000 for child care expenses. Sally and Bill have three children who are not yet school age.;b. Bill and sally are provided a free membership at a local fitness and exercise club that allows them to attend three aerobic exercise sessions per week. The value of this type of membership is $1,600 per year.;c. Bill is provided free parking at work. The value of the parking is $1,800 per year.;d. Sally is provided with a free apartment. Living in this apartment is a condition of her employment. Similar apartments rent for $1,200 per month.

 

Paper#32359 | Written in 18-Jul-2015

Price : $22
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