Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is $0.30 per mile. What are Tom's and Mason's after-tax costs of commuting to and from work
Answers
The question incomplete! The complete question along with answer and explanation is provided below.
Question:
Eagle Life Insurance Company pays its employees $.30 per mile for driving their personal automobiles to and from work. The company reimburses each employee who rides the bus $100 a month for the cost of a pass. Tom, in his Mazda 2-seat Roadster, collected $100 for his automobile mileage, and Mason received $100 as reimbursement for the cost of a bus pass.
a. What are the effects of the $100 reimbursement on Tom's and Mason's gross income?
b. Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is $0.30 per mile. What are Tom's and Mason's after-tax costs of commuting to and from work?
Explanation:
a.
For Tom:
He is required to include the $100 in gross income therefore, he would have to pay after-tax cost on the reimbursement.
For Mason:
He is not required to include the $100 in gross income due to qualified transportation fringe.
b.
For Tom:
Marginal tax = 24%
The after-tax cost of commuting = 0.24*$100 = $24
The before-tax cost of commuting = $0 (since he was reimbursed)
For Mason:
The after-tax cost of commuting = $0
The before-tax cost of commuting = $0 (since he was reimbursed)
Related Questions
In your own opinion, why do you think it is important to establish a daily job search routine?
If you buy a product or service, you are a/an ___________. A. Consumer B. Producer C. Entrepreneur D. Philanthropist
If an organization’s competitive strategy relies on long-term relationships with the clients who purchase the organization’s goods and services, the organization should reward its employees from its executives to its sales staff with incentives based on Options quarterly sales. annual profits. prices of its stocks in daily trading. a rolling five-year measure of financial performance.
"The price of coffee increases by 10%, and as a result, Alex purchases fewer donuts. This suggests that to Alex, coffee and donuts are:"
Answers
Ford motor company provides support and incentives for its ford and lincoln dealers worldwide. through a multilevel program, ford provides incentives to reward dealers for meeting sales goals. dealers receive an incentive when they are near a goal, another when they reach a goal, and a larger incentive if they exceed sales projections. all of these actions are intended to encourage dealers to Push the ford products through the channel to consumers.
What projected sales examples?
Estimate how much you're going to sell
For instance, you may have bought 60,000 toys a closing year, and you are expecting a 25% increase in income this 12 months. that means, this upcoming 12 months, you're estimating that you may promote 75,000 toys.
The method is: previous month's sales x velocity = extra income; and then: additional sales + preceding month's rate = forecasted sales for next month.
Conclusion:bottom-up forecasts begin by using projecting the amounts of gadgets an employer will sell, then multiplying that variety by way of the common value according to the unit. you could also construct in the range of locations, variety of income reps, a wide variety of interactions, and other metrics.
Learn more about Metrics here brainly.com/question/229459
#SPJ2
Answer: push
Explanation:
all of these actions are intended to encourage dealers to push the ford products through the channel to consumers.
Answers
Answer:
380 minutes
Explanation:
Given: Plan A : Monthly fee $25
Additional per minute charges = 9 cents
Plan B = Monthly fee = $32.60
Additional per minute charges = 7 cents
The equation for cost usage under plan A will be,
X = 25 + 0.9 y
wherein y denotes the number of minutes consumed
Similarly, for Plan B, the equation would be,
X = 32.6 + 0.07 y
since total cost under the two has to be same at the same number of minutes.
Equating the two , we get,
25 + 0.09 y = 32.6 + 0.07y
⇒ 0.02y = 32.6 - 25
⇒ 0.02y = 7.6
⇒ y =
⇒ y= 380
Hence till the usage level of 380 minutes, Plan A will not cost more than Plan B.
Answers
When various new businesses are opening in an area, it signifies that the area is safe and conducive for new businesses thus attracting potential investors and more consumers. Potential investors may be encouraged to set up their own business and will help combat unemployment by hiring local people. Foreign businesses also pay local government taxes which will also improve economy.
Entrepreneurship will generate local, national, and global interest. The more investors are interested to set up business in the local area, the better for the area's economy and unemployment problems will be diminished.
Answers
Answer: B - ROI percentages
Explanation:
edge 2020
Answers
Answer: NO, Chelsea is responsible to the seller and not to the buyer.
Explanation: A listing agent is a person or an organisation who acts as a third party in a business transaction mandated to represent the agent of his or her principal in this case the seller. Chelsea is a listing agent he is expected to work as agreed with his principal who is the seller. Recommending a price to the seller will mean that he is betraying the agreement between him and his principal who is the seller. The customer has to source for an agent who is specialized in price negotiation to give the recommended price or stand on his behalf
B. Media is an excellent source of entertainment.
C. The responsible use of visuals can help keep your audience engaged, informed, and entertained.
D. Media is easy to use and slide presentations can accommodate all types of media.
Answers
Answer:
The correct answer is C: the responsible use of visuals can hep keep your audience engaged, informed and entertained
Explanation:
In the process of explaining something to someone that may not know what the subject is, the correct and proper use of visuals, like images and videos, may have a great impact in the person that is trying to understand the subject. Moreover, both images and videos tend to be more memorable than just the use of words, therefore that when an example is shown with an image the person tend to remember the image and later the meaning of it and what the purpose of it was. In addition, videos help the audience to pay more attention to the main focus of it, rather than just telling the what the story is about.
That answer definitely seems the most reasonable.