John Cotton is an employee at Radiance Senior Living. He received the following benefits from his employer during 2021 on the company’s location for company purposes:Personal protective equipment: $140 per monthEmployer-provided cell phone: $80 per monthMeals: $160 per month

What amount of these benefits is taxable for 2021?

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-06-15T18:16:03+02:00

The amount of these benefits that is taxable for 2021 is $1,680.

The Benefits that is taxable for 2021 is Personal protective equipment of the amount of $140 per months.

Hence:

Taxable benefit=$140×12 months

Taxable benefit=$1,680

Therefore the amount of these benefits that is taxable for 2021 is $1,680.

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