John, a US citizen, and Ella, a Canadian citizen (her US tax status is non-resident alien) were recently married in Toronto, Canada, where they reside.  John is  a shareholder in USAUSA,Inc, an S corporation.  As a wedding gift, John gave 100 shares of his S corporation stock to Ella.  This gift of stock to Ella will have no impact on the tax status of the USAUSA, Inc.   Question 8 options:   True   False

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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.