Max miller the owner of a boutique has a valuable employee, Ask an Expert

Accounting

Max Miller, the owner of a boutique, has a valuable employee for whom he pays a $200 annual premium for a $50,000 life insurance policy. The employee's husband is the beneficiary. This benefit when added to her regular salary does not make the total compensation unreasonable. Max may deduct the premium as a business expense.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M961044

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