How do taxable benefits work?
submitted by jen

mendy

If your boss gives you something besides your paycheck, like a company car or free meals, that stuff can be taxed. The tax guy checks how much those benefits are worth and adds that to your earnings so you pay taxes on it just like regular income.

Yanamman

Taxable benefits are like extra gifts from your employer that count as part of your pay. Even if you don't get cash, if your boss gives you something like a free phone or a gym membership, you have to pay tax on it. The government figures out how much they're worth and adds that to your income when you do your taxes. They'd never miss a chance to tax you.