article thumbnail

What Are Fringe Benefits and Are They Taxable?

HR Digest

Some companies can offer mental health support for all their employees. Something as serious as retirement planning assistance could just as soon be a benefit as providing a gym membership for employees who want to work out. Fringe benefits can take on many forms and its definition can vary according to the company.

401(k) 52
article thumbnail

What Are fringe benefits? Options, taxability, and other considerations.

Business Management Daily

Social security and workers’ comp, for example, aren’t usually bonus options and so are not considered fringe benefits. Commuting rule This rule informs the value of employer-provided transportation for commuting purposes, whether due to unsafe conditions or other reasons. Various factors can influence lease value.

Taxes 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Understanding Taxable Benefits In A Quick and Easy Way

Vantage Circle

Employee discounts. Employee stock options. Retirement planning services. Transportation (commuting) benefits. Dependent care assistance. Educational assistance. Employer-provided cell phones. Group-term life insurance coverage. Lodging on your business premises. No-additional-cost services.

article thumbnail

17 Essential Employee Benefits Ideas to Boost Morale and Productivity

Empuls

While salary and wages are important, they are only one part of the equation when it comes to attracting and retaining talented employees. Providing a comprehensive benefits package is essential for keeping employees happy, healthy, and motivated. Costco Costco is known for providing its employees with competitive wages and benefits.

article thumbnail

Common Tax Forms Employers Need to Know: A Complete Guide

HR Lineup

The information on Form W-2 includes total wages earned, federal and state income tax withheld, Social Security and Medicare taxes withheld, and any other deductions or contributions such as retirement plan contributions. Form 1099-DIV: Used to report dividends and distributions from stocks and mutual funds.

Taxes 85