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JDD Corporation provides the following benefits to its employee, Ahmed (age 47):
Salary
$300,000
Health insurance
10,000
Dental insurance
2,000
Life insurance
3,000
Dependent care
5,000
Professional dues
500
Personal use of company jet
200,000
Assume the life insurance is a group-term life insurance policy that provides $200,000 of coverage for Ahmed.
a) Assuming Ahmed is subject to a marginal tax rate of 30 percent, what is his after-tax benefit of receiving each of these benefits?
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Assume Ellina earns a 10 percent after-tax rate of return, and that she owes a friend $1,200. Would she prefer to pay the friend $1,200 today or $1,750 in four years?
All depreciable assets are for 100% business use and Alpha uses a low-value pool for all eligible assets. The closing value of the low-value pool at 30 June 2013 was $5,300. Alpha purchased a printer on S June 2014 for $700.
corporate income tax is an expense, not a distribution of the profits to the government - company should report changes in the deferred tax asset and liability accounts as footnotes in 10-k
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