Noun1.fringe benefit- an incidental benefit awarded for certain types of employment (especially if it is regarded as a right); "a limousine is one of the fringe benefits of the job" perk,perquisite benefit- financial assistance in time of need ...
1) n.anyprofitoracquiredrightorprivilege,primarilythroughacontract.2) inworker'scompensationtheterm"benefit"istheinsurancepaymentresultingfromafatalaccidentonthejob,while"compensation"isforinjurywithoutdeath.3) inincometaxation,anythingthatbringseconomicgain.4)"fringebenefits"arerightsfromemploymentotherthansalary...
“IRS”), (iii) any summary plan description, summary of material modifications, and other similar material written communications (or a written description of any material oral communications) to the employees of Xxxxxx or its Subsidiaries concerning the extent of the benefits provided under a Xxx...
Pet insurance: This type of insurance can help cover veterinary care and other expenses. Other types benefits An employer may offer extra perks to express their appreciation to employees alongside core benefits. These are sometimes referred to as fringe benefits. Some examples of fringe benefits incl...
The IRS maintains a list of exceptions and benefits that aren't taxed, but if there's some substantial value to the non-cash benefit, it is most likely subject to income taxation. This is because it is considered to be extra income that isn't meeting the minimum or necessity of the pos...
Some fringe benefits are only nontaxable in certain situations. Some taxes could apply. For example,group-term life insurance coverageis only exempt from FICA tax up to the cost of $50,000. Check IRSPublication 15-Bfor more information on fringe benefits and exemptions. ...
Fringe benefitsmeans the amount of: Health Benefitsmeans health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits. Supplemental Benefitmeans the monthly benefit payable to the Executive under this Agreement. ...
For example, the IRS looks closely at the delineation between wages and distributions, meaning S corps must be careful to give each shareholder who provides a service to the company a “reasonable wage.” Distributions and dividends can’t take the place of wages. Fringe benefits are also ...
You have to calculate the amount of taxes withheld from your employee’s gross pay. IRS tax tables can help with that. You’ll also have to take away other deductions like medical and life insurance, union dues, and garnishments.
activities usually come under the remit of thePERSONNEL MANAGEMENTfunction. In fact, in the UK the origins of personnel management lie in the concern to improve employee welfare felt by certain employers in the early years of the 20th century. SeeFRINGE BENEFIT,HUMAN RELATIONS. See alsoSOCIAL ...