Examlex

Solved

Jamal,age 52,is a Human Resources Manager for Triple W Company

question 67

Essay

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?


Definitions:

Data-Based Networks

Networks designed to support the collection, transmission, and storage of data, often involving the use of digital infrastructure and technologies.

Average Page Views

A metric that measures the average number of pages viewed by visitors to a website within a given time frame, indicating engagement levels.

Visitors

Individuals who visit a place, such as a website, physical store, or tourist attraction, often measured for analytical purposes.

Time Period

A time period refers to a specific duration of time, defined by a start and an end point, during which certain events occur or are measured.

Related Questions