Health and accident insurance

Jamal, age 52, is a human resources manager for Triple W company. His annual salary is $110,000 and he recieves the following fringe benefits during the current year:

Tripe W pays for all employees’ health and accident insurace. Triple W pays $7,000 for Jamal’s health insurance during the year.

Triple W provides Jamal with group-term life insurance coverage of $200,000 during the year. The monthly inclusion amount per $1,000 of coverage is $.23

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Triple W has a flexible benefits plan in which employees may participate to pay any qualifying medical costs not reimbused by their health insurance. Jamal has $1,600 withheld from his salary under the plan. During the year he receives reimbursements of $1,300.

Triple W pays parking costs for all management employees. Jamal’s parking costs $220 per month.

Triple W pays Jamal’s annual memberhsip dues of $450 to the Society of Human Resource Management Association. The company also subscribes to several management journals for Jamal costing $650 a year.

Jamal took a college class on financial accounting and Triple W reimbursed his tuition of $6,000 through its tuition assistance program for all employees.

Jamal’s consumption of coffee provided by Triple W is valued at $250 a year.

How much income must Jamal report from his job?Jamal, age 52. manager for Triple W Campany. neins during the es the follo nple w pays for all employees hand accident insurance. Triple w pays S7000 for health insurance during the year .Triple w ides Jamal ge of S200,000 during amount per si 00 of one age is s 23 The monthly inclusion ployees may participale to pay ary qualifying riple has a flexible benefil has withheld from ieir health insuramxg, medical costs not salary under the plan. During the year ho receives reimbursements of St.300 pays king for al employees Jamars parking costs $220 month. Triple w annual dues SI50 society Human Resource Management Association. The company also subscribes several management Jamal costing $650 a year. of Jamal took a college class on financial accountingand Triple w reimbursed his luilion $6,000 through its tuition assistance program for all empkyees. year. Jamal s consumption of conee provided by w is valued a S250 a How much income must Jamal report from his job?

 
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