expensing benefits

Forum|Forum|1 year ago
May 22, 2024
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Are there any benefits for part time employees can be expensed by a C Corp without being taxed to the individual?

Health Care - costs not covered by insurance

medical insurance premiums

life insurance

Health IRAs

Wellness benefits - memberships, equipment, etc.

Education benefits

cell phones

child care

any others?

Similarly are there any benefits that can be provided to the Board of Directors that can be expensed without being taxable?

Ask the Experts - Biz Tax - May 2024

LindaSh

There are many benefits which are available to both part-time and full-time employees which are not taxable provided they are within the thresholds outlined by the IRS for each type of benefit. You can find the list of such benefits in IRS Publication 15. Here is the link: https://www.irs.gov/publications/p15b

You will need to check with the provider of the employee benefits program to see if they allow such benefits for part-time employees and/or Board of Directors.