What type of fringe benefits can a business offer to employees?
1/1/2020Offering fringe benefits to employees is an excellent way to help attract and retain great staff, improve employee morale, and create tax deductions for the business. There are a variety of fringe benefits that businesses can offer to employees. These include but are not limited to:
• Accident, health and life insurance benefits
• Adoption and day care assistance
• Cafeteria plans
• Discounts
• Educational assistance programs
• De Minimis and no additional cost fringes
• Pension plan contributions
• Meals and lodging for employer convenience
The nature of the benefits being offered should be documented in the employee manual, and some benefits can have anti-discrimination requirements. Please consult with a human resources expert for guidance in implementation of fringe benefit programs.