What Are Examples of Imputed Income?
What may be included or excluded from imputed income depends on the local regulations. The following items are commonly considered as imputed income:
- Personal use of a company car;
- Fitness benefits such as a gym membership;
- Certain care assistance or group-term insurance;
- Moving expense reimbursements;
- Employee education assistance exceeding a certain amount;
- Adoption assistance;
- Certain employer gifts such as cash and gift certificates;
- Health insurance for a domestic partner;
- Certain employee discounts provided by the company.
What Is Excluded from Imputed Income?
The following items are commonly excluded from imputed income:
- Health insurance for dependents;
- Health savings accounts;
- Group term life insurance below a certain amount;
- Education assistance below a certain amount;
- Small or occasional employer gifts.
The elements excluded from imputed income may vary depending on local regulations.
