A fringe benefit is a form of pay for the performance of services. For example, you provide an employee with a fringe benefit when you allow the employee to use a business vehicle to commute to and from work.
Fringe benefit rules are pretty strict and most benefits are considered taxable income.
You can read IRS Publication 15-B to see what is allowed as a fringe benefit and what qualifies. We also suggest checking in with your CPA or tax preparer to make sure they agree with how you record any fringe benefits in our payroll system.
You can read IRS Publication 15-B to see what is allowed as a fringe benefit and what qualifies. We also suggest checking in with your CPA or tax preparer to make sure they agree with how you record any fringe benefits in our payroll system.