Josef is an employee of ACME Equipment Rentals and Repair. To ensure that Josef is available to respond to service calls, the company provides Josef with an Apple I-phone. Josef, on occasion, will also use the phone for personal calls and to watch the occasional TikTok video on his breaks. Is this a taxable or nontaxable fringe benefit to Josef?
Josef is an employee of ACME Equipment Rentals and Repair. To ensure that Josef is available to respond to service calls, the company provides Josef with an Apple I-phone. Josef, on occasion, will also use the phone for personal calls and to watch the occasional TikTok video on his breaks. Is this a taxable or nontaxable fringe benefit to Josef?
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 43P
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Question
Josef is an employee of ACME Equipment Rentals and Repair. To ensure that Josef is available to respond to service calls, the company provides Josef with an Apple I-phone. Josef, on occasion, will also use the phone for personal calls and to watch the occasional TikTok video on his breaks. Is this a taxable or nontaxable fringe benefit to Josef?
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