Define the personal fitness expenses

Reference no: EM131500153

Question: In 2000, Oracle chairman Lawrence J. Ellison received $8,360 from the company for "personal fitness expenses." According to the Haig-Simons definition of income, how should this benefit be treated for tax purposes? What difficulty do you see in devising a consistent system for determining whether such benefits should be taxable?

Reference no: EM131500153

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