Taylor begins a new job as a logistics manager. His company advises him that he may need to travel internationally on occasion, so he should obtain a passport. The company reimburses Taylor for the cost of the passport. Taylor uses the passport when he vacations in Europe later in the year. What tax issues should Taylor consider?
What will be an ideal response?
Does Taylor have income from his company's payment of his passport cost? Would this expenditure be considered a working condition or de minimis fringe benefit?
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Indicate whether the statement is true or false
Outlet centers are shopping centers that contain mostly manufacturers' and retailers' outlet stores.
Answer the following statement true (T) or false (F)
Cost of goods sold for a manufacturer is calculated as follows:
a. Beginning inventory plus purchases minus ending inventory. b. Purchases plus beginning inventory minus ending inventory. c. Beginning inventory plus cost of goods manufactured minus ending inventory. d. Beginning inventory minus cost of goods manufactured minus ending inventory.
Which of the following uses dial as an action verb?
A) ?To open the office safe, you must dial the numerical code exactly. B) ?Unfortunately, the numbers on the dial are blurred by use. C) Unless the dial face can be read, the operator will be unable to enter the code correctly.