Paige, age 17, is a dependent of her parents. Her parents report taxable income of $120,000 on their joint return (no qualified dividends or capital gains). During 2023, Paige earned $3,900 pet sitting and $4,500 in interest on a savings account. Click here to access the 2023 tax rate schedule. What are Paige's taxable income and tax liability for 2023?   a.  Paige's total taxable income is $fill in the blank 1. b.  Paige's tax liability is $fill in the blank 2.

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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.