All of the Following Fringe Benefits Paid for by the Employer

question 54

Multiple Choice

All of the following fringe benefits paid for by the employer may be excluded from an employee's gross income except

• A)discounts on services of 25 percent.
• B)subscriptions to professional publications.
• C)recreational facilities on employer's premises.
• D)company-paid parking costing $225 per month to non-employees.

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Definitions:

Tax

A compulsory financial charge or levy imposed by a government on individuals or entities to fund public expenditures.

Excise Tax

A tax imposed on specific goods, services, or activities, often with the aim of reducing consumption of those items or generating revenue.

Tax Revenue

The income that is gained by governments through taxation, used to fund public services and government operations.

Leather Shoes

Footwear made from the hide of animals, treated and fashioned into various styles and forms for practical and fashion purposes.