Final answer:
Lane's total annual taxable benefit amount for 2022 is potentially $95, which all comes from the employer-paid gym membership, assuming that the other benefits such as medical insurance, commuter passes, and dependent care assistance are non-taxable within certain limits according to tax laws.
Step-by-step explanation:
To calculate the total annual taxable amount for Lane's 2022 benefits at the law firm Salvaggio & Wheelers, we need to determine which benefits are considered taxable. Generally, employer-provided benefits such as medical insurance, commuter passes, and dependent care assistance might be tax-exempt up to a certain limit, and gym memberships might be taxable, depending on specific tax laws.
The monthly benefits for medical insurance are $270, resulting in an annual total of $270 x 12 months = $3,240. The commuter pass costs $520 per month, which annually is $520 x 12 months = $6,240. Employer-paid gym membership fees for the year are $95. The dependent care assistance provided amounts to $4,000 per year. As per tax guidelines, dependent care benefits can be excluded from income up to a limit of $5,000 for married taxpayers or a lower limit for single taxpayers, so we shall consider them potentially non-taxable for this calculation.
Without specific tax law exemptions and limits, we would add up these totals. For the taxable gym membership, since it is a nominal amount, we include the full $95.
To summarize, assuming that medical insurance, commuter benefits, and dependent care fall under tax-exempt limits, only the gym membership would potentially be taxable. Thus, the total annual taxable benefit amount for Lane would be $95 for the employer-paid gym membership.