1. Erin is single and a mom of a 4 year old child. Erin has net taxable income and salary of $45,000 making her a 22% marginal income tax payer. She spends $2,500 on child care expenses. Should Erin take the child care credit or put $2,500 in the FSA?(FSA by 50 is wrong)

Child care credit by $60.

FSA by $241.

FSA by $50.

They are the same.

2. Bill is a full-time employee of Monkey Business Inc. (MBI), which has 200 employees. Bill is married to Beth, his dependent. Bill has just turned age 65, although he lied about his age to Beth who thinks hes amazing and only 45 years old. Both Bill and Beth are covered under MBIs health plan but when Bill turned 65, the plan made him take Medicare. How long can Beth be covered under COBRA after Bill is no longer eligible for the plan?( 18 months is wwrong )

0 months

18 months

27 months

36 months

3. Robin works for a small publishing company. The company built a 2,500 square foot gym on its premises. The cost of the facility was $80,000. The cost of a comparable membership to a local gym is $60/month. Robin, her husband, and her two children all use the gym regularly. How much, if any, must Robin include in her yearly gross income related to this fringe benefit? ($2,880 is wrong )

$0

$720

$2,160

$2,880

4.Free airline tickets, bus, or train tickets or hotel accommodations provided to employees on a space available basis is referred to as what type of fringe benefit?(de minimis is wrong )

qualified employee discount

no additonal cost

employee assistance program

de mimimis