4E 13. Lebron is married filing jointly, earned wages of $1,452,000, received $54,200 in interest from savings, contributed $58,000 to a tax-deferred retirement plan, and had itemized deductions totaling $674,500. Find his gross income, adjusted gross income, and taxable 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.