Chapter 13: Employee Fringe Benefits

Question 1

what is the income exclusion for qualified adoption services (2023)?

Answer 1

15,950

Question 2

what is the income phaseout threshold for qualified adoption services (2023)?

Answer 2

239,230 - 279,230

Question 3

are season tickets includable or excludable in an employees income?

Answer 3

includable

Question 4

Which benefits are both deductible to the employer and NOT included in the employee’s income?

Answer 4

Periodical subscriptions and athletic facilities

Question 5

are qualified transportation benefits deductible by the employer?

Answer 5

NO

Question 6

what age is the cost of dependent care assistance program up to for children?

Answer 6

13

Question 7

what is the max amount that can be excluded from income for the dependent care assistance program?

Answer 7

5,000 or 2,500 for married coupled filing separate.

Question 8

is personal use of a company care a taxable fringe benefit?

Answer 8

YES it must be included in then employees gross income.