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
Contact Payroll Services
Contact Payroll Services for any issues you may have regarding the topics in this section.
Human Resources
Miami University
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Our Mission
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.
