13. Mr. Coleman, an unmarried individual, has the following income items: Interest income $24,200 Schedule C net profit 50,600 He has $9,300 itemized deductions and no dependents. Mr. Coleman's Schedule C income is qualified business income (non-service). Compute Mr. Coleman's income tax.

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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.