Shared Flashcard Set

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3.1 Fringe Benefit Rules
Taxable Compensation vs Non Taxable Comp
35
Accounting
Undergraduate 1
08/09/2015

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Cards

Term
Taxable Compensation
Definition
Back-pay awards
Term
Taxable Compensation
Definition
Bonuses
Term
Taxable Compensation
Definition
Commissions
Term
Taxable Compensation
Definition
Company vehicles (personal use)
Term
Taxable Compensation
Definition
Dismissal and severance pay or final vacation pay
Term
Taxable Compensation
Definition
Employer-paid commuter fees in excess of $130/month
Term
Taxable Compensation
Definition
Employer-paid parking greater than $250/month
Term
Taxable Compensation
Definition
Employer-provided bicycle commuting assistance in excess of $20/month
Term
Taxable Compensation
Definition
Fringe benefits (unless specifically excluded)
Term
Taxable Compensation
Definition
Gifts, gift certificates, prizes, and awards
Term
Taxable Compensation
Definition
Group legal services
Term
Taxable Compensation
Definition
Group-term life insurance over $50,000
Term
Taxable Compensation
Definition
Nonaccountable reimbursed business expenses
Term
Taxable Compensation
Definition
Noncash fringes, unless excluded by Internal Revenue Code
Term
Taxable Compensation
Definition
Nonqualified moving expenses
Term
Taxable Compensation
Definition
Overtime pay
Term
Taxable Compensation
Definition
Regular wages
Term
Taxable Compensation
Definition
Sick pay and disability benefits (portion attributable to employer contributions)
Term
Taxable Compensation
Definition
Tips
Term
Nontaxable Compensation
Definition
Dependent child care assistance (up to $5,000) under a Section 129 plan
Term
Nontaxable Compensation
Definition
Company vehicle (business use only)
Term
Nontaxable Compensation
Definition
De minimis fringes
Term
Nontaxable Compensation
Definition
Disability benefits (employee contributions)
Term
Nontaxable Compensation
Definition
Educational assistance for job-related courses (no limit)
Term
Nontaxable Compensation
Definition
Group-term life insurance of $50,000 or less
Term
Nontaxable Compensation
Definition
Medical/dental/health plans (employer contributions)
Term
Nontaxable Compensation
Definition
No-additional-cost fringes
Term
Nontaxable Compensation
Definition
Qualified employee discounts on employer goods/services
Term
Nontaxable Compensation
Definition
Qualified moving expenses
Term
Nontaxable Compensation
Definition
Qualified transportation fringes
Term
Nontaxable Compensation
Definition
Reimbursed business expenses (if accounted for in a timely manner)
Term
Nontaxable Compensation
Definition
Working condition fringes which would be deductible if paid by employee
Term
Nontaxable Compensation
Definition
Non-job-related education assistance up to $5,250 under a qualified plan
Term
Nontaxable Compensation
Definition
Long-term care insurance
Term
Nontaxable Compensation
Definition
Health Savings Account contributions
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