SOLUTION: Helen Meyer receives a travel allowance of $260 each week from her company for time away from home. If this allowance is taxable and she has a 40 percent income tax rate, what amou

SOLUTION: Helen Meyer receives a travel allowance of $260 each week from her company for time away from home. If this allowance is taxable and she has a 40 percent income tax rate, what amou

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Question 759302: Helen Meyer receives a travel allowance of $260 each week from her company for time away from home. If this allowance is taxable and she has a 40 percent income tax rate, what amount will she have to pay annually in taxes for this employee benefit?
Answer by Cromlix(4381) (Show Source): You can put this solution on YOUR website!
$260 * 52 = $13520 per year
40% of $13520
=$5408
Hope this helps.
:-)
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