Fringe Benefits – Types Of Benefits For Employees
In today’s tight job market, a good fringe benefit package is often essential. Certain perks can be deducted by your company as business expenses but don’t have to be included in employees’ incomes. Qualified transportation fringe benefits belong in this category.
Here’s a list of some others:
- Medical, dental and long-term care insurance.
- Up to $50,000 worth of term life insurance.
- A de minims fringe benefit, such as the occasional use of a company-copying machine, beverages provided to employees or a holiday gift of nominal value.
- A “no additional-cost service” that you offer clients or customers in the ordinary course of your business.
- An on-premises athletic facility.
- A qualified employee discount.
- A qualified moving expense reimbursement.
- A working-condition fringe benefit that an employee could have deducted if he paid for it personally. An example is a job-related education.
- Certain meals and lodging provided for the convenience of the employer.
- Business-generated frequent flier miles.