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Understanding Taxable Fringe Benefits

What is a taxable fringe benefit?

Taxable Fringe Benefits

The IRS Publication 15-B defines a fringe benefit as "a form of pay for the performance of services." Fringe benefits are commonly regarded as extra benefits outside of a company's standard health insurance offerings.

Examples of Taxable Fringe Benefits

Taxable fringe benefits encompass a wide range of perks, from healthcare to housing. Below are some common categories:

Health Benefits

While complimentary gym memberships or medical reimbursements can be appealing, they may also be subject to taxation.

Transportation Benefits

Benefits such as a company car or public transportation subsidies are advantageous, but they might be taxable.

Housing Benefits

If you reside in a university-provided apartment, be aware that this benefit might be taxable.

Taxable Fringe Benefits Policy

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Working alongside the various departments and units within Miami University, we strive to recruit, cultivate, acknowledge, and involve a diverse pool of talent to fulfill their goals and the overarching goals of the institution.