Practice Quiz

Veterinary Practice Manager

Category - CVPM

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If a veterinary hospital owns a vehicle that is driven for personal use, on a routine basis, by an associate veterinarian, what type of taxation is this benefit subject to?
  1. Tax exempt
  2. Full tax withholding, the same as any wage, salary, or bonus
  3. Partial tax withholding, depending on actual mileage
  4. Personal use is not an employee benefit, according to current tax law
Explanation
Answer: B-If a veterinary hospital owns a vehicle that is driven for personal use, on a routine basis, by an associate veterinarian, it is subject to full tax withholding, the same as any wage, salary, or bonus.
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