Question 38 James and Martha Willard are 67 and 65 years old respectively. The couple received the following income items during 2020: Wages from part-time employment Fully taxable pensions Interest from Liberty Bank & Trust Certificates of Deposit Interest from Cedar County (lowa) Bond Social Security Benefits $10.000 $50,000 $4,000 $2,000 $45,000 What is the taxable amount of their social security benefits? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!! IF YOU GETA DECIMAL AMOUNT IN YOUR FINAL ANSWER, ROUND UP THE ANSWER TO THE NEXT WHOLE DOLLAR AMOUNT.

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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.