What is imputed income on a paycheck?

Taxable imputed income includes items like:

• Life insurance (Group-term life insurance that is greater than $50,000 worth of coverage)

• Discretionary bonuses, including gift cards

• Income from exercise of nonstatutory employee stock options

• Taxable income from providing or vesting restricted stock

• Employer-provided cell phone for non-business use

• Gym memberships

• Employer-provided vehicle or car lease

• Transportation benefits

• Housing allowances

• Moving expenses

• Meals and lodging that are not for company purposes

• Reimbursement for classes or development unrelated to work

• Travel expenses not related to business

Imputed income is also known as fringe benefits or in-kind benefits, which are benefits that a company or employer gives their workers in addition to their mandatory benefits and yearly salaries. Here are some imputed income types that might not be taxable:

• Medical, dental, and vision insurance

• Disability insurance

• Adoption assistance provided by the employer

• Dependent care assistance

• Employee stock options (though sometimes these are subject to taxes)

• Educational assistance, such as tuition reimbursement

• Paid time off

• Retirement planning services