Helen Ming receives a travel allowance of $200 each week from her company for time away...
Helen Ming receives a travel allowance of $200 each week from her company for time away from home. If this allowance is taxable and she has a 10 percent income tax rate, what amount will she have to pay in taxes for this employee benefit? (Round your final answer to 2 decimal places.)
Homework Answers
The amount that she have to pay in taxes for this employee benefit is computed as shown below:
The travel allowance that Helen Ming receives is $ 200
The income tax rate is 10%
The amount she has to pay is calculated by multiplying the tax rate by the travel allowance i.e.
= $ 200 x 10%
= $ 20
Therefore Helen Ming has to pay $ 20 from her benefit.
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