Taxable and Non-Taxable Items

Individual Taxable Income

Taxable

• Auto & Travel Allowance
• Auto-Personal Use of Company Car
• Bonuses
• Commissions
• Professional Fees
• Fellowship & Stipend to Teach, Study or Research Work
• Foreign Workers under Federal Tax Treaty
• Group Term Life in Excess of $50,000.00
• Military-Active Duty & Reserve
• Profit Sharing on W-2
• Retirement Incentives
• Salaries
• Salary Paid during Sickness & Disability
• Severance Pay
• Tax Gross Up
• Tips
• Vacation & sick Time
• Wages

Non-Taxable

• Alimony or Child Support Received
• Auto & Travel Reimbursements
• Cafeteria Plans (IRC Sec. 125-129 Plans)
• Prepaid Medical Premiums
• Purchase of Additional Medical or Dental
• Education Benefit
• Health Savings Account
• Employer Paid Adoption Expense
• Combat Pay
• Death Benefits
• Deferred Compensation (IRC Sec. 401, 403, 414, 457, 501, etc)
• Dividends and Interest
• Gambling & Lottery Winnings
• Gifts & Bequest
• Grants for Maintenance
• Housing Allowance for Ministers
• Moving Expense Reimbursement
• Non-Compete Agreement
• Pension & Social Security
• Proceeds from Insurance Policies
• Qualified Profit Sharing Distributions
• Scholarships
• Disability Insurance Benefits
• Stock Options (12/19/00 & thereafter)
  • Stock Appreciation Rights (SAR)
  • Stock Options Granted
  • Non-Statutory (box 12V)
  • Statutory
  • Interest and Gains
  • ISO
• Supplemental Unemployment Benefits SUB pay
• Third Party Sick Pay from Insurance Companies
• Tuition Reimbursements
• Unemployment Compensation
• Workmen’s Compensation

Income reported on W-2 for E-1 and W-10

Taxable

• Auto and Travel Allowance
• Auto-Personal use of Company Car
• Bonuses
• Commissions
• Professional Fees
• Fellowship and Stipend to Teach, Study or Research
• Foreign Workers Under Federal tax Treaty
• Group Term Life In Excess of $50,000
• Military-Active Duty and Reserve
• Profit Sharing on W-2
• Retirement Incentives
• Salaries
• Salary Paid During Sickness and Disability
• Severance Pay
• Tax Gross Up
• Tips
• Vacation and Sick time Paid in Lump Sum
• Wages

Non-Taxable

• Auto and travel Reimbursements
• Cafeteria Plans (IRC Sec. 125-129 Plans)
• Prepaid Medical Premiums
• Purchase of Additional Medical or Dental
• Education Benefit
• Health Saving Account
• Employer Paid Adoption Expense
• Combat Pay
• Death Benefits
• Deferred Compensation (IRC Sec. 401, 403, 414, 457, 501, etc)
• Disability insurance Benefits
• Housing Allowance for Ministers
• Moving Expense Reimbursement
• Non-Compete Agreement
• Stock Options (12/19/00 & thereafter)
  • Stock Appreciation Rights (SAR)
  • Stock Options Granted
  • Non-Statutory (box 12V)
  • Statutory
  • Interest and Gains
  • ISO
• Supplemental Unemployment Benefits SUB pay
• Third Party Sick Pay from Insurance Companies
• Tuition Reimbursements
• Unemployment Compensation
• Workmen’s Compensation
• SCorp
• 2% shareholders

Payroll Expense Tax

Taxable

• Auto & Travel Allowance
• Auto-Personal Use of Company Car
• Bonuses
• Cafeteria Plans (IRC Sec. 125-129 Plans)
• Prepaid Medical Premiums
• Purchase of additional medical or dental insurance
• Education Benefit
• Health Savings Account
• Employer Paid Adoption Expense
• Commissions
• Deferred Compensation (IRC Sec. 401, 403, 414, 457, 501 etc.)
• Professional Fees
• Foreign Workers with Federal Tax Treaty
• Group Term Life in Excess of $50,000.00
• Profit Sharing reported on W-2
• Retirement Incentives
• Salaries
• Salary Paid during Sickness & Disability
• Severance Pay
• Stock Options
  • Stock Appreciation Rights (SAR)
  • Stock Options Granted
  • Non-Statutory (box 12V)
  • Statutory
  • Interest and Gains
  • ISO
• Tax Gross Up
• Vacation & Sick Time Paid in a Lump Sum
• Wages
• 2% SCorp Shareholder Health Insurance

Non-Taxable

• Auto & Travel Reimbursements
• Moving Expense Reimbursement
• Disability Insurance Benefits
• Supplemental Unemployment Benefits (SUB Pay)
• Third Party Sick Pay from Insurance Companies
• Tips
• Tuition Reimbursements
• Workmen’s Compensation