Ralph is employed by Home Depot. He drives one of the company's delivery vans, delivering items to job sites for customers. As one of the job's perks, he gets to take the van home in the evenings. In 2022, Ralph drove the van 20,000 miles, of which, 2,000 were personal miles. The van has an annual lease value of $3,000. What is the personal use value that is included in Ralph's taxable wages, subject to all payroll taxes? Group of answer choices $300 $600 $200 $2,000
Ralph is employed by Home Depot. He drives one of the company's delivery vans, delivering items to job sites for customers. As one of the job's perks, he gets to take the van home in the evenings. In 2022, Ralph drove the van 20,000 miles, of which, 2,000 were personal miles. The van has an annual lease value of $3,000. What is the personal use value that is included in Ralph's taxable wages, subject to all payroll taxes? Group of answer choices $300 $600 $200 $2,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Ralph is employed by Home Depot. He drives one of the company's delivery vans, delivering items to job sites for customers. As one of the job's perks, he gets to take the van home in the evenings. In 2022, Ralph drove the van 20,000 miles, of which, 2,000 were personal miles. The van has an annual lease value of $3,000.
What is the personal use value that is included in Ralph's taxable wages, subject to all payroll taxes?
Group of answer choices
$300
$600
$200
$2,000
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