Fringe benefits are employment benefits not reflected in basic wages for an employee. Such benefits are generally considered taxable income to the employee. With innovation, insight and experience regarding fringe benefits, Hitesman & Wold understands the exceptions in the Internal Revenue Code related to fringe benefits and assists clients in providing numerous fringe benefits to employees on a tax-favored basis.
Hitesman & Wold insight helps educate clients in understanding and offering a variety of fringe benefits to employees. Our counsel includes addressing:
- What is subject to requirements under the Internal Revenue Code, ERISA, and HIPAA
- Health reimbursement arrangements (HRAs)
- Health saving accounts (HSAs)
- Medical savings accounts
- Consumer-driven health care
- Qualified transportation fringe benefit plans
- Fringe benefits excludable from employee's gross income including a de minimis (minimal) fringe, no additional cost benefits, meal furnished for the convenience of the employer, qualified employee discounts, working condition fringe, qualified moving expense reimbursements
- When fringe benefits may be extended to retired and disabled former employees, to surviving spouses, and to dependent children of employees
- and more
Hitesman & Wold attorneys also provide seminars and training regarding consumer-driven health care and fringe benefits.