Susan, who is a qualifying widow, has a monthly gross income of $5,750.78 Calculate her net earnings if she has the following withheld from her paycheck: Social Security, Medicare, State Withholding Tax of 4.95%, Federal Withholding Tax using the Percentage Method. She also makes a $150.00 contribution monthly to the USO.

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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.