Employers offering use of a company auto to employees must report fair market value of personal use as a non-cash fringe benefit on the employees’ W-2, this includes officers of S-Corporations.
Officers of S-Corporations are required to add the amount their health insurance premiums paid for by the corporation.
Please make sure you are prepared to provide this information to your payroll provider at the end of 2012 to insure compliance with this rule. Call us at 602-362-7939 with any questions!
