Use the 2016 marginal tax rates to compute the income tax owed by the following person.   Unmarried head of household with two dependent children.   Gross​ income: $47,000 ​Adjustments: none ​Deductions: ​$4676 state taxes ​$1000 theft loss Tax​ credit: ​$2000 The income tax owed is ​$

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Q: Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried…

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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.