jraeyre wrote:
Just a question to those who have these "perks" in lieu of income......do you have to pay income tax and payroll tax on the value of these perks???


Jra
Some you do, some you don't. It pretty much depends on whether jealous folks have complained to Congress that it isn't 'fair' that some companies pay in benefits rather than wages. 

Anything a company pays for life insurance for an employee over $50,000 is considered taxable (income, not payroll). A couple of others are also considered taxable (again, income, not payroll). 

One has to remember that FICA taxes (payroll taxes) are on wages, period. If it isn't wages, there is no FICA tax due by definition. 


The only reason some people get lost in thought is because it's unfamiliar territory. - Paul Fix