Lisa has the following items related to her taxes: Federal tax refund (amount she overpaid)     $3000 Federal taxes withheld from her paycheck    $4000 California taxes withheld from her paycheck    $3000 Property tax paid on her personal residence:   $9000 What is the amount her itemized deduction for taxes? Select one: a. $13,000 b. $12,0000 c. $10,000 d. $16,0000

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A:

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Q: Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment…

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.