Maria made $100,000 from long-term investments and Steve made $100,000 from wages. Both are filing single and took the standard deduction and personal exemption.   Calculate the FICA taxes owed by each person Calculate the federal income taxes owed by each person Calculate the overall tax rate for each person

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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.