QUESTION 10 Maria is employed by a major defense contractor and earns $156,000 in 2016. She Calculates:   a. The amount of Social Security taxes withheld from your income   b. The amount of Medicare tax withheld from your income   c. The amount of FUTA withheld from your income

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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.