Pomeroy Corporation has a company health-care plan for all employees. Albert, an employee, owns 15% of the stock. Philip, also an employee, owns 1% of the stock. The cost to the company of Albert's health plan is $3,000 and Philip's is $2,100. What amount of the health plan must Albert and Philip report as income?

Question

Quizplus · Accepted Answer

The Answer of Pomeroy Corporation has a company health-care plan for all employees. Albert, an employee, owns 15% of the stock. Philip, also an employee, owns 1% of the stock. The cost to the company of Albert's health plan is $3,000 and Philip's is $2,100. What amount of the health plan must Albert and Philip report as income?

Pomeroy Corporation Has a Company Health-Care Plan for All Employees