Exercise 12-19 (LO. 7) Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a.  Mario, who is single, earns wages of $440,000. His additional Medicare tax is $fill in the blank 1. b.  George and Shirley are married and file a joint return. During the year, George earns wages of $138,000, and Shirley earns wages of $210,000. Their additional Medicare tax is $fill in the blank 2. c.  Simon has net investment income of $38,000 and MAGI of $223,000 and files as a single taxpayer. Simon's additional Medicare tax is $fill in the blank 3.

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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.