Learning Objective 12-1: Discuss and explain the tax implications of compensation in the form of salary and wages from the employee's and employer's perspectives.

Team member 1: Employee's Perspective:

Team member 2: Employer's Perspective:

Learning Objective 12-2: Describe and distinguish the tax implications of various forms of equity-based compensation from the employee's perspective and the employer's perspectives. Team member 3: Employee's Perspective:

Team member 4: Employer's Perspective:

Learning Objective 12-3: Compare and Contrast taxable and nontaxable fringe benefits and explain the employee and employer tax consequences associated with fringe benefits.

Team member 5: Compare and Contrast taxable and nontaxable fringe benefits.

Team member 6: Explain the employee and employer tax consequences associated with fringe benefits.