The following is a tax benefit associated with fringe benefits:

1)	Because they are forms of non-cash compensation they are not taxable as income even without a statutory exclusion.

2)	The value of the benefit is excludable from the income of the employee pursuant to a statutory exclusion.

3)	The value of the benefit is deductible by the employer, although not included in the taxable income of the employee.

4)	All of the above.