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What else can I help you with?
Is rent paid by an employer considered taxable income?
Yes, rent paid by an employer is generally considered taxable income for the employee.
If an employee steals from his employer can this amount be added to the employee's wages as taxable income?
This money cannot be added to the employee's wages as taxable income. This money is not theirs and should be reported to the police.
Is a relocation settlement taxable by the IRS?
Relocation settlements are taxable by the IRS. If an employer pays them to relocate an employee, they must be included in with the employees gross income total.
How does an employee pay imputed income taxes?
Imputed Tax is on imputed income...say like a taxable employee benefit (say your employer giving you a car). The value of the benefit is included in taxable income that withholding and such is determined from...so your estimated payments are made on it...and it is included in the taxable income on your W-2, so the tax you calculate on your retur includes it as well.
Is gift card from employer taxed?
Yes - Gift cards from employers are taxable income. They should be reported by the employer as wages and reported by the employee as income. There is an exception if the gift is de minimus, but the exception is genuinely difficult to meet.
Is an employer stock option incentive taxable income?
They are not taxable. Stocks are not taxed based on your income. They are taxed by region or where you may live. That is why these stocks are not taxable.
What is difference between foregoing and surrender of salary?
Foregoing: waiver of salary by an employee is called foregoing of salary. Since income under the head 'Salaries' is taxable on accruel or reciept, whichever comes earlier, the entire amount foregone will be taxable in the hands of employee. Eg: an employee directs his employer to give his salary to a charitable trust. The amound given to charitable trust is taxable in the hands of employee. Surrender: If an employee surrender his salary to the central government under the Voulantary surrender of salaries act 1961, the tax on such amound surrenderd need not be paid.
Is pregnancy disability income taxable?
Pregnancy disability income is generally taxable if the payments come from an employer-provided plan and the employer paid the premiums. However, if you paid the premiums yourself, the income may not be taxable. It's important to consult with a tax professional for specific advice.
Can you reimburse employee for disability insurance?
Yes, an employer can reimburse employees for disability insurance premiums, but there are specific tax implications to consider. If the reimbursement is provided as part of a qualified plan, it may be tax-deductible for the employer and not taxable for the employee. However, if not structured properly, it could result in taxable income for the employee. It's advisable to consult a tax professional or legal advisor to ensure compliance with IRS regulations.
Gift received from employer will be taxable or not?
Almost always yes....call it anything you want....something of value from your employer is taxable income. (Yes, a Thanksgiving turkey or Christmas bonus, etc is taxable).
Will the cost of employer-paid health insurance will be included as income on w-2 tax forms in 2011 - 81k?
Not as taxable income on the W-2 form for in 2011 but as information to the employee about the amount of premiums that the employer is paying for the employee medical insurance premiums.But by the tax year 2013 it may be possible that it will be included in the gross income amount as taxable income to some recipients. Bill Summary & Status 111th Congress (2009 - 2010)H.R.3590Click on the below Related Link or go to the THOMAS.LOC.gov website
What is taxable allowance?
A taxable allowance is a payment made to an employee that is subject to income tax and other payroll taxes. This can include various forms of compensation, such as travel allowances, meal stipends, or housing allowances, which are considered part of an employee's taxable income. Unlike non-taxable allowances, which may be exempt from taxation under specific conditions, taxable allowances increase the employee's overall taxable income. Employers must report these allowances on tax forms, and employees are responsible for including them in their income tax returns.
