Meals May Be Excluded from an Employee's Gross Income Provided

question 43

True/False

Meals may be excluded from an employee's gross income provided they are furnished on the employer's business premises and are for the convenience of the employer.

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Definitions:

Proximity

The state of being close or near in space, time, or relationship.

Natural Resources

Naturally occurring materials such as minerals, water, and fertile land that can be used for economic gain.

International Organization

An entity formed by sovereign states or civil societies to work on common areas of interest such as peace, security, and development on a global scale.

Global Trade Agreements

Agreements between countries that regulate tariffs, trade barriers, and other aspects of international trade.