Healthwise Ambulance requires its employees to be on 24-hour call and consequently gives them $800 per month housing allowance and a $200 per month food allowance. Ron, an employee of Healthwise, receives a salary of $40,000 per year (this does not include the allowances). Ron will be taxed each year on
A) $40,000.
B) $42,400.
C) $49,600.
D) $52,000.
D) $52,000.
Cash payments are taxable. [($800 + $200) × 12] + $40,000 = $52,000
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