If you want to reward your staff for their hard work without making them pay for it, it's important to choose the right benefit structure.
Generally speaking, non-taxable benefits include:- Employee discounts
- Employee stock options
- Group-term life insurance up to $50,000
- Health flexible spending accounts
- Retirement planning services
- Job-related tuition assistance reimbursements
- Theater or sporting event tickets
- Group meals, employee picnics
- Traditional birthday or holiday gifts (not cash) with a low FMV
You can access a full IRS explanation of taxable v. non-taxable employee "fringe benefits" here. KitchenSync's industry experts can help you evaluate whether your benefit plan poses any tax liability for your employees.