Employee benefits also called fringe benefits, perquisites, perqs or perks are various non-wage compensations provided to employees in addition to their normal wages or salaries. In instances where an employee exchanges wages for some other form of benefit is generally referred to as a ‘salary packaging’ or ‘salary exchange’ arrangement. In the State of New Mexico, most kinds of employee benefits are taxable to at least some degree and we can help you plan ahead for that.
Examples of these benefits include: housing (employer-provided or employer-paid), group insurance (health, dental, life etc.), disability income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing, funding of education, and other specialized benefits.