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TAXABLE BENEFITS are employer provided "non-cash" taxable compensation or fringe benefits, such as employer-provided vehicles, complementary tickets, and graduate level educational assistance, are subject to federal income, state income, social security, and Medicare tax rules. According to Internal Revenue Code Section 1.61-1, all compensation paid to, or on behalf of, an employee constitutes wages subject to income and employment tax withholding, unless specifically excluded by IRS code.

Learn new Accounting Terms

AFE, dependent upon usage, is an acronym for Authorization for Expenditure or Average Funds Employed.

TI could mean, among others, Total Income or Tenant Improvements.

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