Reimbursement of costs covered by employees on behalf of the employer such as travel expenses and meal allowancesMultiple ChoiceMust be reported on a T4 to the Caneda Revenue AgencyIncrease the employee's taxable incomeAre reported as part of gross wagesTypically are paid through Accounts Payoble and do not impact deductionsMust be below $300 per person per calendar year

All the reasonable reimbursements will not include in the gross income of employee. If this is not…

Reimbursement of costs covered by employees on behalf of the employer such as travel expenses and meal allowances Multiple Choice Must be reported on a 14 to the Caneda Revenue Agerncy Increase the employee's taxable income Are reported as part of gross wages Typically are paid through Accounts Payable and do not impact deductions Must be below $300 per person per calendar year

Reimbursement of costs covered by employees on behalf of the employer such as travel expenses and meal allowances Multiple Choice Must be reported on a 14 to the Caneda Revenue Agerncy Increase the employee's taxable income Are reported as part of gross wages Typically are paid through Accounts Payable and do not impact deductions Must be below $300 per person per calendar year

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section13.3: Reporting Withholding And Payroll Taxes

Problem 1OYO

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