A fringe benefit is a form of pay for the performance of services.
Any fringe benefit you provide is taxable and must be included in the recipient's pay unless the law specifically excludes it.
For specific inclusion/exclusion rules, see IRS Publication 15.
Fringe benefits which could exclude all or part of the value of certain benefits:
- Accident and health benefits.
- Achievement awards.
- Adoption assistance.
- Athletic facilities -- Not exempt if offsite (i.e. membership at a local public gym). Exempt if onsite with some limitations.
- De minimis (minimal) benefits.
- Dependent care assistance.
- Educational assistance.
- Employee discounts.
- Employee stock options.
- Employer-provided cell phones.
- Group-term life insurance coverage.
- HSAs.
- Lodging on your business premises.
- Meals.
- No-additional-cost services.
- Retirement planning services.
- Transportation (commuting) benefits.
- Tuition reduction.
- Working condition benefits.
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