Mario a self-employed baseball coach. During 2020, his net earnings from self- employment were $175,000. What is Mario's Medicare (HI) tax for 2020? Note: The Social Security Wage base in 2020 was $137,700. Select one: O a. $20,459.56 O b. $21,761.56 Oc. $4,686.76 O d. $5,075

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Q: additional 0.9% Medicare tax

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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.