Fringe Benefits Contact Number

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• 1. 803-756-4432
• 2. (800) 662-6177
• 3. (800) 328-1519

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• Frequently Asked Questions

• Are your fringe benefits taxable?

  Any fringe benefit provided to an employee is taxable income for that person unless the tax law specifically excludes it from taxation. Taxable fringe benefits must be included as income on the employee’s W-2 and are subject to withholding.

• Are fringe benefits deductible for the employer?

  All fringe benefits provided by an employer are technically considered taxable unless an exception is made. Fortunately, many forms of benefits are made at least partially deductible . Health insurance is a very common fringe benefit provided by employers .

• What is the meaning of fringe benefits?

  Definition of fringe benefit. 1 : an employment benefit (such as a pension or a paid holiday) granted by an employer that has a monetary value but does not affect basic wage rates. 2 : any additional benefit increased energy is a fringe benefit of regular exercise.

• Are there any disadvantages to fringe benefits?

  What are the disadvantages of fringe benefits? The major inconvenience with providing fringe benefits is the cost to the employer . Small business owners may not have the capacity to bear such expenses. And, oftentimes, most small businesses are kicked out of the competition for in-demand skills.

• What are some advantages of fringe benefits?

  Below are the advantages: Fringe benefits motivates the employee. ... The health of the employees is assured. ... Fringe benefits shows the caring approach of the employer towards the employees. ... It reduces employee turnovers and increases loyalty for work. Due to education support, the knowledge base of the employee increases. ...