What is imputed income?
PeopleKeep
AUGUST 3, 2022
As an employer, you know that benefits and compensation can come in various forms—and in today’s tight labor market, offering a variety of different benefits is essential to recruiting and retaining employees. However, it’s important to keep in mind that when you give employees fringe benefits like a gift card or access to a company car, your employees need to pay taxes on the value of these benefits, which is known as imputed income.
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