quot employee business expenses quot please respond to the following
As part of his contract at his new job, Jim is provided a company car
and gas card to go back and forth to work. He uses the car for
out-of-town travel approximately once a month. Jim also uses the car and
the gas card for his family vacations, dinner, etc.
Explain the
applicable tax law regarding employee compensation and the criteria for
deducting expenses. Make at least two recommendations for ways that Jim
can ensure compliance with the tax law.