A fringe benefit is a form of pay for the performance of services. An employer can offer various types of employee fringe benefits that are eligible for the fringe benefits tax deduction. Examples include:
Disability insurance that is taxable but exempt from FICA and unemployment
Group term life insurance up to $50K for regular non-shareholder employees
Working condition benefits, such as a corporate car and smartphone
De minimis benefits, such as the use of a company copy machine, small gifts, occasional parties and picnics, occasional theater or sporting events and benefits from points and miles programs.
Easily Save Clients Thousands in Taxes
Scan client returns. Uncover savings. Export a professional tax plan. All in minutes.
Let us show you how you could save your clients thousands of dollars and make tax planning easier than ever with Corvee.
Request a Demo 2.0 (Tax advisor or accountant)
"*" indicates required fields