Benefits

Carmen is a diver for the local police department. She purchases health insurance and dental insurance for herself and her husband. Her total monthly premiums are $478.63. Carmen’s federal income tax rate is 15%. Determine Carmen’s monthly tax savings by having her insurance premiums withheld before taxes are calculated.

Joaquin is a materials engineer. He purchases health, dental, and vision insurance through his employer. His monthly premiums are: $78.55 for health insurance, $24.17 for dental insurance, and $18.85 for vision insurance. Joaquin’s federal income tax rate is 28%. Determine his monthly tax savings by having his insurance premiums withheld before taxes are calculated.

Johanna is a watchmaker with a base annual salary of $38,960. She receives a monthly travel allowance of $85 because she travels between different stores that her employer owns. She also receives an annual stipend of $500 because she recently completed an advanced certification course. Calculate the total annual value of Johanna’s job.

Bernice is a meeting planner who earns an annual base salary of $53,300. She receives a cell phone allowance of $17.50 per month. Bernice also has her professional organization membership dues of $8.35 per month deducted from her paycheck. What is the annual value of Bernice’s job?

Tommy is an insurance claims adjuster who earns an annual base salary of $60,200. He also receives a cell phone allowance of $23 per month. Tommy must pay for parking at his office building, which costs $68.50 per month. What is the annual value of Tommy’s job?