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a. What are the seven major types of fringe benefits covered bySec. 132?b. What...a....

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Accounting

a. What are the seven major types of fringe benefits covered bySec. 132?

b. What tax advantage is offered relative to such benefits?

c. Are such benefits available to employees only or may thebenefits also be offered to spouses, dependents, and retirees?

d. Is discrimination prohibited relative to Sec. 132benefits?

e. What is the tax impact on the employer and employees if anemployer’s plan is discriminatory?

Original answer please. NO COPY AND PASTE

Answer & Explanation Solved by verified expert
3.8 Ratings (509 Votes)
a Seven major fringe benefits under sec 132 NoAdditionalCost Service Qualified Employee Discount Working Condition Fringe De Minimis Fringe Qualified Transportation Fringe Qualified Moving Expense Reimbursement Qualified Retirement Planning    See Answer
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In: Accountinga. What are the seven major types of fringe benefits covered bySec. 132?b. What...a. What are the seven major types of fringe benefits covered bySec. 132?b. What tax advantage is offered relative to such benefits?c. Are such benefits available to employees only or may thebenefits also be offered to spouses, dependents, and retirees?d. Is discrimination prohibited relative to Sec. 132benefits?e. What is the tax impact on the employer and employees if anemployer’s plan is discriminatory?Original answer please. NO COPY AND PASTE

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