n 2019, Cheryl, who is single and not a dependent of another taxpayer, has taxable income of $30,000. Using this abbreviated 2019 tax schedule for single filers below, compute her tax liability. $0 to $9,700 10%, $9700  to $39,475 12% 1.  compute Cheryl's tax liability if her income consisted of $26,000 in wages and $4,000 in long term capital gains.  2.What would Cheryl's tax liability be if the $30,000 included $6,000 she withdrew from her IRA to pay off her credit cards? Cheryl is 35.

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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.