And the Owner Benefits Too
Employee benefits are an additional expense that employers incur in order to attract and retain talented employees. Many of these benefits are tax-deductible to the employer, which can help reduce the true out-of-pocket cost to the employer. In some cases an owner is also eligible to take advantage of these “employee” benefits, which results in an even greater benefit to the employer by enabling him or her to transfer personal expenses to the business side of the equation. In this chapter we’ll discuss three types of employee benefits:
Fringe benefits are forms of payment to employees ...