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Fringe Benefits

Fringe benefits received from an employer are taxable and must be included in income as compensation unless the tax law specifically excludes the benefits, or the taxpayer paid fair market value (The price which property brings when it is offered for sale by one who is willing but not obligated to sell and is bought by one who is willing or desires to buy but is not compelled to do so) or them.

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Cathy Fisher

Common Cents Bookkeeping and Tax Preparation

Serving Henderson, NC, Buncombe County, Polk County, Transylvania County

E: cathy@commoncentsqbo.com

P: 828-595-2835

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