De Minimus Benefits Any property or service with a relatively low value is excluded from tax on employees – including owners and partners. This includes occasional meals or supper money, local transportation when working late, holiday or birthday gifts, occasional sporting event tickets and traditional awards.
Fringe Benefits – Transportation Tax Breaks Rules Of The Road: How To Secure Employee Transportation Tax Breaks As with most tax breaks, you must meet detailed rules to secure tax-free treatment of yours companies qualified transportation fringe benefits. Here’s a brief rundown of the three categories of qualified employer-provided benefits: TRANSIT PASSES: To qualify, a […]
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: […]
Fringe Benefits – Cut Taxes, Win Loyalty Via Tax-Free Commuting Here’s a tax-wise fringe benefit your company should consider: Help employees get to work by providing tax-free transportation. Not only do workers appreciate this perk, but also your company can save big on payroll taxes. In the past, employers could pay the full cost for […]