Tuition for courses, even if not job related $5,250 cap Educational assistance plans (Section 127) Certain transportation expenses (Section 132) Including use by spouse and dependents Use of on-site athletic facilities (Section 132) Employee discounts Dependent care assistance (up to $5,000) (Section 129) No more than 5% of total can be paid to 5% or more owners
Not Taxable
Working Condition Fringe Benefits (Section 132), such as:
Job placement assistance Job related education expenses Business use of company-owned vehicles Small items for illness, performance, disability
Fringe Benefits - 2% or More Subchapter S Shareholders
Traditional awards Occasional tickets to events De minimis fringe benefits (Section 1321) Low value holiday or birthday gifts Occasional dinners or supper money Transportation fares for overtime employees
Meals and lodging for employer's benefit Transportation benefits not otherwise nontaxable Moving expense reimbursements No Section 125 Cafeteria plans
Taxable
Accident and health insurance premiums Qualified achievement awards Employer provided term insurance Adoption assistance awards
Although shareholder & corporation may have offsetting deduction
Fringe Benefits - 2% or More Subchapter S Shareholders.mmap - 8/21/2008 -