The Internal Revenue Service classifies fringe benefits from your job as compensation. Even if a benefit does not provide you with income, you must report its value as taxable income. These benefits ...

Learn how imputed income impacts your business and how to calculate the taxes you must pay on it so you stay compliant. Let’s say you paid an employee $60,000 last year and calculated their federal ...

An employee’s salary isn’t the only form of income they receive. Imputed income may be provided to employees who work at your small business. If so, it is important to recognize it to avoid tax ...