Households can offer certain benefits to their employee and have them be considered non-taxable compensation (no taxes for employer or employee).  The IRS-approved benefits for households are:

• Health Insurance premiums from a state-licensed insurance provider;

• Up to $5,250 per year towards tuition & books for an accredited college or university.

• Up to $245 per month toward public transportation to and from the worksite;

• Up to $245 per month towards parking (at the jobsite and/or at the public transportation facility).

Strategically-structured payroll can save you and your employee a considerable amount of money each year.  To learn more about non-taxable compensation and how to take advantage of it, give us a call.