must present the procedures or formulas used to reach your final results Pepe Jose is a single taxpayer, age 34. In 2022, his salary is $69,400 and he has interest income of $12,500. In addition, he has deductions for adjusted gross income of $14,340 and he has $14,390 of itemized deductions. Calculated the following amounts:   Gross Income   Adjusted Gross Income   Standard Deduction or Itemized Deduction Amount   Taxable Income   Taxes Liability

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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.