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Jamal,age 52,is a human resources manager for Triple W Company.His annual salary is $110,000 and he receives the following fringe benefits during the current year:
• Triple W pays for all employees' health and accident insurance.Triple W pays $7,000 for Jamal's health insurance during the year.
• Triple W provides Jamal with group-term life insurance coverage of $200,000 during the year.The monthly inclusion amount per $1,000 of coverage is $.23.
• Triple W has a flexible benefits plan in which employees may participate to pay any qualifying medical costs not reimbursed by their health insurance.Jamal has $1,600 withheld from his salary under the plan.During the year he receives reimbursements of $1,300.
• Triple W pays parking costs for all management employees.Jamal's parking costs $220 month.
• Triple W pays Jamal's annual membership dues of $450 to the Society of Human Resource Management Association.The company also subscribes to several management journals for Jamal costing $650 a year.
• Jamal took a college class on financial accounting and Triple W reimbursed his tuition of $6,000 through its tuition assistance program for all employees.
• Jamal's consumption of coffee provided by Triple W is valued at $250 a year.
How much income must Jamal report from his job?
Circulatory System
The body system responsible for the transport of blood, nutrients, gases, and wastes throughout the body.
Endocrine Glands
Glands of the endocrine system that secrete hormones directly into the bloodstream, rather than through ducts.
Hormones
Chemical messengers produced by the endocrine glands that are transported by the bloodstream to target organs to regulate physiology and behavior.
Diaphragm Muscle
The diaphragm muscle is a large, dome-shaped muscle located at the base of the lungs, playing a crucial role in the breathing process by contracting and relaxing to change the volume of the chest cavity.
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