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The answer to your question is, yes and no. The tax rules are different for each item you listed. While all of them are potentially deductible as ordinary and necessary business expenses, the degree to which each item must be included in on employee W-2's varies. I will continue my response.
For health and wellness, the value should be included in Box of the W-2.
For dependent care, generally as long as the value is less than $5,000 it wouldn't be taxable. This is reported in Box 10 of the W-2.
You can provide employees with up to $50,000 in group term life insurance as a tax-free employee benefit. If you provide more, the employee must pay tax on the value of the excess coverage. Code C reports this amount in Box 1.
Many of my clients do provide certain perks that are fully deductible and tax-free to the employee. I will send you an invitation to a call if you would like to discuss this topic more over the phone.
My button to offer a call does not appear to be working, please request a call from only me Rick Martin if you would like to further discuss ways to incentivize employees and boost morale in the most effective ways.
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