In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) is $1,114,000, and they itemize their deductions as follows: real property taxes of $17,500, charitable contributions of $26,950, and mortgage interest expense of $46,600 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference. a. What is Deon and NeNe's AMT?

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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.