If you receive fringe benefits for services you render, they are usually considered taxable income, even if someone else receives them, such as your spouse. These taxable benefits and perks may include: company-paid off-site gym membership company vehicle for personal use holiday gi...
Are gift cards taxable income, like cash, or are they de minimis fringe benefits, like fruit baskets? Are gift cards taxable? Yes, gift cards are taxable. According to the IRS, gift cards for employees are considered cash-equivalent items. Like cash, include gift cards in an employee’s ...
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There are key differences between non-taxable income and taxable income. Learn what types of income need to be reported to the IRS and which income is exempt from taxation. By distinguishing between the two types, you can make informed decisions to lower