In its publication regarding “Fringe Benefits”, the IRS identifies 21 different kinds, ranging from Achievement Awards to Working Condition Benefits. The list of different types of fringe benefits is shown below.

Cafeteria Plans
Accident and Health Benefits
Achievement Awards
Adoption Assistance
Athletic Facilities
Dependent Care Assistance
Educational Assistance
Employee Discounts
Employee Stock Options
Employer-Provided Cell Phones
Group-Term Life Insurance Coverage
Health Savings Accounts
Lodging on Your Business Premises
Meals
Moving Expense Reimbursements
No-Additional-Cost Services
Retirement Planning Services
Transportation (Commuting) Benefits
Tuition Reduction
Working Condition Benefits

The key question about any of these benefits is “Is it taxable to the taxpayer, wholly excluded, or partly taxable?” There are different and complicated rules described by the IRS in their publication regarding fringe benefits.

The professionals at Tyler Lynch PC are happy to help our clients interpret the tax deductibility of items in the above categories.