Using the married filing jointly status and their income and expense​ statement, calculate the 2017 tax liability for Shameka and Curtis Williams.​ First, use the standard​ deduction, and then use the following itemized​ deductions: Income     Expenses   Earned income ​$48,000.00   Home mortgage interest ​$7,800.00 Interest income 1,600.00   Real estate and state income taxes 3,850.00       Miscellaneous deductions 550.00   Explain to the Williams which method they should use and why.   Shameka and​ Curtis' total gross income for the 2017 tax year is ​$____________. ​(Round to the nearest​ cent.)

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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.