Mr. and Mrs. Willet will file their 2021 tax return as married filing joint. They have an AGI of 26,000, no tax exempt income and social security benefits of 16,000 for the year. What amount of their social security benefits must they include in their 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.