Health Benefits. While now reported on W-2's, employer-provided health insurance premiums are currently not required to be reported as additional income by the employee. This includes premiums paid for the employee and qualified family members. In addition, the employee portion of premiums can be paid in "pre-tax" dollars.
Credit Card Airline "miles". Credit card benefits like miles are not generally deemed as taxable income. So those miles earned on corporate credit cards that go to you as an individual are not likely to increase your tax bill.
Employee tuition reimbursement. Up to $5,250 of tuition reimbursed to you by your employer is not deemed to be additional taxable income.
Commuting expenses. You can generally exclude the value of transportation benefits you receive up to the following limits.
Company Health Savings Account (HSA) Contributions. Up to specified dollar limits, cash contributions to the HSA of a qualified individual (determined monthly) are exempt from federal income tax withholding, social security tax, Medicare tax, and FUTA tax.
Group Term Life Insurance. You can generally exclude the cost of up to $50,000 of group-term life insurance from your wages.
Small gifts. The IRS calls these "de minimis" benefits. Small-valued benefits are not included in income and could include things like the use of the company copy machine, occasional meals, small gifts, and tickets to a sporting event.
Out of an abundance of caution we have closed our office to any in-person meetings. We continue to work and ask our clients to upload their documents to us and chat over the phone as needed. We are also accepting documents by drop off or snail mail. Of course, you can always call us 425-640-8660LEARN MORE